ISLAMABAD: The Federal Board of Revenue (FBR) has collected data on over 60,000 jewellers nationwide as part of its crackdown on tax evasion in the gold and jewellery business.
According to officials, a significant number of jewellers are underreporting their earnings. Of the total, only 21,000 are registered with the FBR, while just 10,524 have filed tax returns.
In the first phase, the operation is concentrating on Lahore, Rawalpindi, Faisalabad, and Multan. A list of 900 jewellers in Punjab has been prepared, and notices have been issued to those whose declared income does not align with their business scale, spending patterns, or lifestyle.
Authorities highlighted that many jewellers are either unregistered or declaring unrealistically low income. Those suspected of underpaying taxes are being asked to provide clarifications.
The FBR stressed that the campaign is not aimed at targeting any group unfairly but at ensuring all sectors contribute their fair share to strengthen the national economy.
This initiative comes shortly after the FBR announced similar action against individuals flaunting wealth on social media or spending lavishly on weddings, including non-filers seen wearing luxury suits worth thousands of dollars.
