{"id":59203,"date":"2019-12-30T12:42:53","date_gmt":"2019-12-30T07:42:53","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=59203"},"modified":"2020-12-24T15:54:19","modified_gmt":"2020-12-24T10:54:19","slug":"fbr-crackdown-against-tax-evaders-starts-q1-2020","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-crackdown-against-tax-evaders-starts-q1-2020.html","title":{"rendered":"FBR crackdown against tax evaders to start in Q1-2020"},"content":{"rendered":"<p>Islamabad: Federal Board of Revenue (FBR) Inland Revenue (IR) Member Dr Hamid Ateeq recently announced the government authority\u2019s plan to initiate a crackdown against tax evaders starting in the first quarter of 2020, a news source reported. As per the publication, the board has already sent out notices to 200,000 high-net-worth individuals to this effect \u2014 and will initiate the clampdown from March 2020 onwards.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-to-probe-property-tax-evasion-worth-pkr-2-bn.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR to probe property tax evasion worth PKR 2 bn<\/a><\/p>\n<p>Ateeq revealed this information during a meeting of the National Assembly (NA)\u2019s Standing Committee on Finance, Revenue, &amp; Economic Affairs. Other FBR officials in attendance said that they had a list of high-net worth individuals, but that they were not yet taking any action against them because implementing several acts at the same time would negatively impact businesses and the national economy.<\/p>\n<p>FBR officials also stated that according to an agreement with the traders, they had decreased the turnover tax rate from 1.5% to 0.5%. They added that the FBR would increase the limit of annual turnover tax from PKR 10 million to PKR 100 million.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/no-raids-shopsoutlets-registered-taxpayers-fbr-chairman.html\" target=\"_blank\" rel=\"noopener noreferrer\">No raids at shops\/outlets of registered taxpayers &#8211; FBR Chairman<\/a><\/p>\n<p>The FBR officials informed the committee that they would initiate proceedings against tax defaulters with the help of data provided by the National Database and Registration Authority (NADRA) and the <a href=\"https:\/\/www.zameen.com\/news\/fbr-attempting-to-obtain-financial-transactions-data-banks.html\" target=\"_blank\" rel=\"noopener noreferrer\">banks<\/a>. They further added that the FBR would begin implementing the Computerised National Identity Card (CNIC) condition from January 31, 2020, which required traders to submit a copy of their CNIC every time they made a purchase over PKR 50,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Federal Board of Revenue (FBR) Inland Revenue (IR) Member Dr Hamid Ateeq recently announced the government authority\u2019s plan to initiate a crackdown against tax evaders starting in the first quarter of 2020, a news source reported. As per the publication, the board has already sent out notices to 200,000 high-net-worth individuals to this effect \u2014 and will initiate the clampdown from March 2020 onwards. Read:\u00a0FBR to probe property tax evasion worth PKR 2 bn Ateeq revealed this information during a meeting of the National Assembly (NA)\u2019s Standing Committee on Finance, Revenue, &amp; Economic Affairs. Other FBR officials in attendance said that they had a list of high-net worth individuals, but that they were not yet taking any action against them because implementing several acts at the same time would negatively impact businesses and the national economy. FBR officials also stated that according to an agreement with the traders, they had decreased the turnover tax rate from 1.5% to 0.5%. They added that the FBR would increase the limit of annual turnover tax from PKR 10 million to PKR 100 million. Read:\u00a0No raids at shops\/outlets of registered taxpayers &#8211; FBR Chairman The FBR officials informed the committee that they would&hellip;<\/p>\n","protected":false},"author":68,"featured_media":22258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[14721],"persona":[],"class_list":{"0":"post-59203","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-details-on-fbr-crackdown-against-tax-evaders-starts-in-q1-2020","9":"cat-15015-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 crackdown against tax evaders to start in Q1-2020 - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Federal Board of Revenue (FBR) Inland Revenue (IR) Member Dr Hamid Ateeq recently announced the government authority\u2019s plan to initiate a\" \/>\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-crackdown-against-tax-evaders-starts-q1-2020.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR crackdown against tax evaders to start in Q1-2020 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Federal Board of Revenue (FBR) Inland Revenue (IR) Member Dr Hamid Ateeq recently announced the government authority\u2019s plan to initiate a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-crackdown-against-tax-evaders-starts-q1-2020.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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