FBR gets data of almost 200000 elites for tax collection.
FBR Intensifies Tax Collection Efforts with NADRA Data
The Federal Board of Revenue (FBR) has taken a significant step towards enhancing tax collection by acquiring the data of nearly 200,000 high-net-worth individuals from the National Database and Registration Authority (NADRA).
Read More: FBR issues statement on income tax return filing deadline
This move aligns with the FBR’s commitment to fulfilling the conditions set by the International Monetary Fund (IMF) to secure financial assistance for Pakistan.
Data-Driven Approach to Tax Compliance:
By analyzing the lifestyle indicators of these individuals, the FBR aims to identify discrepancies between their declared income and their actual financial status.
This data-driven approach will enable the FBR to pinpoint those who may be underreporting their income and take appropriate action to ensure fair taxation.
Addressing Tax Evasion
The FBR has already received tax returns from over 5.2 million individuals, but a significant portion, nearly two million, have been flagged for potential tax ev
asion. To address this issue, the FBR is intensifying its enforcement efforts and will launch a crackdown on individuals and businesses concealing their taxable income.
Building a Fairer Tax System: FBR gets data of almost 200000 elites for tax collection
This initiative marks a crucial step towards promoting tax compliance and building a more equitable tax system in Pakistan. By leveraging technology and data analytics, the FBR is demonstrating its commitment to enhancing revenue collection and ensuring that all taxpayers contribute their fair share to the country’s development.
Conclusion
The FBR’s acquisition of NADRA data represents a significant advancement in its efforts to combat tax evasion and promote fair taxation.
By employing data-driven strategies and intensifying enforcement, the FBR is working towards a more equitable and efficient tax system in Pakistan.
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