{"id":100576,"date":"2024-11-21T15:23:01","date_gmt":"2024-11-21T10:23:01","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=100576"},"modified":"2024-11-21T15:23:05","modified_gmt":"2024-11-21T10:23:05","slug":"fbr-targets-tax-evaders-new-startegy","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-targets-tax-evaders-new-startegy.html","title":{"rendered":"FBR&#8217;s new strategy rolled out to tackle \u2018high-net-worth tax evaders\u2019"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) has finalised a strategic enforcement plan to target unregistered high-net-worth individuals (HNWIs), including non-filers and those reporting zero income. The news has been sourced from an article on November 21.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-revenue-collection-remains-unchanged.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR\u2019s \u2018collection target\u2019 for FY 2024-25 stands firm<\/a><\/p>\n\n\n\n<p>According to the details, the initiative, directed by Premier Shehbaz Sharif, aims to enhance revenue collection and close tax gaps by focusing on affluent individuals evading taxation.<\/p>\n\n\n\n<p><strong>Key Highlights<\/strong><\/p>\n\n\n\n<p><strong>Initial Phase<\/strong>: The FBR will target 5,000 non-filers identified through a desk audit of transaction data. These individuals reportedly owe a cumulative tax liability of PKR 7 billion.<\/p>\n\n\n\n<p><strong>Profile of Targeted Individuals<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ownership of at least three vehicles.<\/li>\n\n\n\n<li>Annual bank account profits of PKR 100 million.<\/li>\n\n\n\n<li>Monthly credit card bills exceeding PKR 200,000.<\/li>\n\n\n\n<li>Children enrolled in private schools.<\/li>\n<\/ul>\n\n\n\n<p><strong>Enforcement Mechanism<\/strong>: Notices will be issued after approval from the FBR chairman. A dedicated dashboard will track progress, with the first wave of notices expected to be dispatched next week.<\/p>\n\n\n\n<p><strong>Revenue Projections<\/strong><\/p>\n\n\n\n<p>The FBR estimates the combined net worth of these individuals at PKR is 26-27 billion, with an average net worth of PKR 5.4 million per individual. The expected tax recovery per individual is PKR 1.4 million, contributing to the total revenue target of PKR 7 billion.<\/p>\n\n\n\n<p>This enforcement plan marks a significant step towards addressing tax evasion among affluent citizens, signalling the government\u2019s intent to expand the tax net and improve compliance. The FBR\u2019s field formations have completed groundwork for this initiative, reflecting a structured approach to revenue enhancement.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-epayment-2-0-on-iris.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR launches ePayment 2.0 on IRIS for simplified tax compliance<\/a><\/p>\n\n\n\n<p>This move is seen as part of broader reforms aimed at strengthening Pakistan\u2019s tax system and ensuring that high-income individuals contribute their fair share to the national exchequer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has finalised a strategic enforcement plan to target unregistered high-net-worth individuals (HNWIs), including non-filers and those reporting zero income. The news has been sourced from an article on November 21. Read: FBR\u2019s \u2018collection target\u2019 for FY 2024-25 stands firm According to the details, the initiative, directed by Premier Shehbaz Sharif, aims to enhance revenue collection and close tax gaps by focusing on affluent individuals evading taxation. Key Highlights Initial Phase: The FBR will target 5,000 non-filers identified through a desk audit of transaction data. These individuals reportedly owe a cumulative tax liability of PKR 7 billion. Profile of Targeted Individuals Enforcement Mechanism: Notices will be issued after approval from the FBR chairman. A dedicated dashboard will track progress, with the first wave of notices expected to be dispatched next week. Revenue Projections The FBR estimates the combined net worth of these individuals at PKR is 26-27 billion, with an average net worth of PKR 5.4 million per individual. The expected tax recovery per individual is PKR 1.4 million, contributing to the total revenue target of PKR 7 billion. This enforcement plan marks a significant step towards addressing tax evasion among affluent citizens, signalling&hellip;<\/p>\n","protected":false},"author":88,"featured_media":99068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[54453,19230],"persona":[],"class_list":{"0":"post-100576","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-fbr-news-and-updates","9":"tag-federal-board-of-revenue-fbr","10":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR Targets Tax-Evaders with New Startegy - Zameen News<\/title>\n<meta name=\"description\" content=\"FBR unveils enforcement plan to target unregistered HNWIs, non-filers, and zero-income reporters in Islamabad.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-targets-tax-evaders-new-startegy.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR Targets Tax-Evaders with New Startegy - Zameen News\" \/>\n<meta property=\"og:description\" content=\"FBR unveils enforcement plan to target unregistered HNWIs, non-filers, and zero-income reporters in Islamabad.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-targets-tax-evaders-new-startegy.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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