ISLAMABAD: The Federal Board of Revenue (FBR) is going to launch a new campaign to bring almost all the potential taxpayers in the tax net from April 1. Through this move, the FBR expects extra revenue collection of several billion rupees.
The potential taxpayers have been identified through information gathered through different reliable national institutions.
Sources told Customs Today that Broadening of Tax Base (BTB) had been directed by one of the key officials of the tax authority to bring almost all the potential taxpayers into tax net.
In this regard, the source said that BTB had gathered entire required data of potential taxpayers along with record of their financial activities in the last few years.
BTB possesses the travel history as well as procurement of vehicles of the targeted potential taxpayers. Main portion of potential taxpayers comprises on traders community. This data has been collected from the revenue board, registration authorities, airlines, travel agencies, chain of shopping malls and several others sources of this kind.
The source added that top brass of FBR was of the view that voluntary tax compliance scheme (VTCS) had not produced required and desired results in expanding the tax net. Therefore, they tended to collect data of the potential taxpayers to start a new move for broadening of tax net.
Most of the evaluated taxpayers are likely to argue with the tax authorities that their income does not fall in the category of taxpayers. Therefore, under the new initiative, the taxpayers will be contacted for submission of due tax amount and in case of denial, the concerned authorities will present concrete evidences for ascertaining their ability for falling in the category of taxpayers.
The concrete evidences available with the concerned authorities base on the life style, travel history, sale purchase of land, vehicles as well as their other activities related to economic and financial expenditures.
In this regard, FBR’s higher hierarchy also expects a lot of litigation moves from the possibly targeted taxpayers, therefore, adequate and appropriate measures have also been taken to counter the confronting taxpayers in the judiciary.
