Islamabad, Pakistan:The Federal Board of Revenue (FBR) is implementing measures to bring around 2.8 million potential households into the tax net, which could contribute approximately Rs1.6 trillion to the national economy.
The FBR has identified 3.5 million top households liable to pay taxes, but only 700,000 are currently filing returns. The government’s focus on enhancing the tax-to-GDP ratio has resulted in a significant increase in tax filers during the current fiscal year. ARY News
The FBR plans to introduce 15 restrictions on non-filers within two to three months through a finance bill. These restrictions aim to incentivize individuals to file their tax returns and contribute to the tax base.
The FBR is also working on digitizing the examination and appraisal process in customs to improve efficiency and reduce the burden on taxpayers.
The FBR’s efforts to expand the tax base and improve tax compliance are expected to have a positive impact on the country’s economy and revenue generation.
