ISLAMABAD: Federal Board of Revenue (FBR) is set to launch survey in existing and new shopping markets in Karachi for identifying tax evaders.
Regional Tax Office (RTO)-II has devised a strategy for broadening of tax base (BTB) and identifying potential taxpayers through monitoring of shopping plazas, transactions of immovable properties, non-compliant salaried persons, small businesses in the streets of posh areas.
The strategy has been devised during the recent visit of FBR chairman Muhammad Jehanzaib Khan to RTO Karachi.
The sources said that RTO-II would constitute teams of tax officials to conducting physical survey of shopping markets and plazas for identifying tax evaders.
The sources said that the tax officials would take assistance from law enforcement agencies to avoid untoward situation.
“Shopping hub in the city will be surveyed with a view to identify the potential taxpayer like Zamzama, Hyderi, Khada Market, Commercial Area of DHA,” according to strategy paper.
The teams will also conduct survey of new shopping centers where many entrants set up their businesses with huge investments.
The sources said that the FBR teams would question about the source of investment for purchasing stock to run the business.
The sources said tax machinery believed that huge amount of black money or undeclared money was invested in such new shopping centers.
“Newly established supermarkets shall be brought into tax net who are doing business without registration,” according to the strategy for BTB.
In the past whenever the FBR launched such practice it faced huge resistance from business community and trade associations. The sources said that the present government is firm on taking harsh action against tax evaders.
The sources further said that chambers and associations would be taken on board before taking such action in order to avoid any backlash.
It is pertinent to mention here that the informal economy in Pakistan is almost equivalent to the formal economy. The presence of underground economy is depriving the exchequer from revenue collection.
