ISLAMABAD: Federal Board of Revenue (FBR) adopted a comprehensive strategy for broaden tax base and finalized 234,167 cases by mode of enforcement of returns, it is learnt here.
According to official sources the board under Section 122C of the Income Tax Ordinance 2001 has finalized 234,167 cases by way of enforcement of returns and finalization of proceedings while 50 % of cases disposed due to successful strategy utilized by the board however, the board has paid 37.6% less refunds as compared to the corresponding period last year sources confirmed.
Sources told that data of 5.6 million financial transactions was collected from different sources during tax years 2016 only and analyzed at the head office. The existing taxpayers were identified on the basis of CNIC; the data of non NTN holders was sent to NADRA for verification of addresses where the board has further issued notices.
It is important to mention here that reduction in tax rates though reduces the incidence of tax on lower and middle income earners are perused in the developing countries for broadening the tax bases, while a broad tax base reflects the fiscal management and status of tax compliance in an economy.
