Karachi: The Federal Board of Revenue (FBR) has issued notices to over 115,340 high-net-worth individuals over non-payment of taxes, a news source reported. As per officials, the taxation authority has issued these notices under Section 114 of Income Tax Ordinance 2001.
According to the financial details obtained by the FBR, these individuals owned luxury properties and other assets and did not get themselves registered with the authorities during the previous (fiscal year) FY2018-19.
As per reports, these persons were asked to file their income tax returns (through online services provided by the FBR) for FY2018-19, or face legal action. Around 20,000 notices have been issued in Karachi, 14,700 in Lahore, 10,150 in Multan, 8,900 in Peshawar, 7,600 in Sialkot, 7,000 in Quetta, 6,170 in Faisalabad, 5,980 in Hyderabad, 5,480 in Bahawalpur, 5,520 in Sargodha, 4,800 in Sukkur, 3,770 in Gujranwala, and 2,271 in Abbottabad.
The FBR recently adopted a ‘no-tolerance’ policy to facilitate its broadening of tax base (BTB) efforts; which includes action against unregistered industrial consumers of gas and power connections. To facilitate this measure, the Karachi BTB unit of the authority issued 250,000 notices to defaulers/non-taxpayers.