ISLAMABAD: Federal Board of Revenue (FBR) will issue tax cards to about 8, 50,000 filers of tax returns which would help taxpayers to get tax favor on vehicles and property sale/purchase.
FBR acting Chairman Shahid Hussain Asad told Customs Today that issuing of tax cards would benefit tax payers and they will get favors and exemptions on their withholding taxes. He said that the non-filers have to pay more withholding tax on their property, vehicles and other goods in comparison to card holders.
It is important to mention here that withholding tax is adjustable so card holders could be benefited from it but non-filers will have to pay full withholding tax.
The contract to issue tax card has been given to National Database and Registration Authority (Nadra) who will deliver these cards to FBR for further distribution.
A source confirmed that FBR has decided to give favors and exemptions to taxpayers so their trust could be built which will further enhance the ratio to pay tax on time.
FBR fails to recover Rs5.62b in taxes from 106 taxpayers
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