Islamabad: The Federal Board of Revenue (FBR) has decided to take action against individuals identified for providing false information in their tax returns, a news source reported.
The authorities have ascertained that some realtors, in order to avoid taxes, had submitted their returns under the ‘agricultural landlord’ category, instead of as builders. This practice, reportedly, has caused losses of billions of rupees to the government.
Recently, the FBR found evidence of some realtors engaged in the said deception, and decided to take action.
This helps the tax evaders also help hide their assets.
The government is also planning to introduce a new tax amnesty scheme next month. It is meant to attract non-filers into the tax net, and incentivise the whitening of untaxed money.