Multan: The Federal Board of Revenue (FBR) Member Accounting Faheem-ul-Haq said that the FBR will start the process of identifying new taxpayers from its existing data by the end of this month, according to a news report. The move aims to increase government revenue to curb problems of fiscal constraints.
A senior FBR official has said that all data is with the FBR and no one can hide from paying taxes. Faheem said that policymakers have provided an opportunity for people to declare their assets, but those who wouldn’t utilise this before 31st July would face difficulties later. Faheem also added that benami law is being prepared and would be approved by the next government and that Pakistan needs to tighten its regulations as internationally, tax reforms are getting stricter.