Shahid Hussain Assad says tax evaders to be declared ineligible for facilities from banks and other financial institutions
ISLAMABAD: Denying media reports regarding the higher administrative cost of tax collection than the collected revenue, Federal Board of Revenue (FBR) Inland Revenue Member Shahid Hussain Assad claimed that the total amount spent in the wake of administrative expenses on tax collection was almost 6 to 7 percent of the total revenue, besides terming such media reports ambiguous.
Talking to Customs Today, Shahid Assad said that the FBR was considering many suggestions for the next fiscal year 2015-16 to curb tax evasion and tax scams, adding that tax defaulter would be declared ineligible to receive any facility from banks and other financial institutions for several years.
He said that thousands of new taxpayers would come into the tax net during the upcoming financial year, as Computerised National Identity Card Number (CNIC) will be treated as the national tax number from July 1, 2015. People are not entering the tax net voluntarily on which the government decided that the CNIC number be treated as NTN, Shahid said, adding that the FBR has finalised the basic structure in this regard with the help of NADRA.
He revealed that the FBR has recommended to the provincial governments to ensure the licensing of every shop or business during the next fiscal year 2015-16 in their respective jurisdictions. The FBR has also directed the governments not to let anyone start a business without getting registred, he said.
Shahid said that the provincial governments could ensure the registration of every business centre effectively than the federal government.
According to the new system, it is essential for every single person to file tax returns either he/she has taxable income or not, he said.
