Friday, 19 August 2022

FBR and NADRA Drafted Plans to start national level exercise to Broaden the Tax Base

The Federal Board of Revenue (FBR) on Monday informed to Finance Minister Shaukat Tarin that the tax authority is drafting new plans to widen the tax base with the help of National Database and Registration Authority (NADRA).

According to media reports, Federal Minister for Finance Shaukat Tarin on Monday visited the FBR’s headquarters in Islamabad and attended meeting to discuss ways for widening the tax base of Pakistan. The role of NADRA in broadening the tax net was also matter of discussion.

The meeting was briefed that the number of annual return filers have reached about 3 million against FBR’s expectation that the number of potential tax evaders are about 7 million. In the meeting, different options have come under discussion during the meeting keeping in view implementation measures introduced through Finance Act 2021.

The FBR has obtained under provision of law for arresting willful tax evaders with acceptance of Parliament through Finance Act 2021. However, the preparatory work was underway especially on account of Inland Revenue Service (IRS) wing of Intelligence and Investigation to point out massive tax defaulters who could be dealt under provisions of law allowing tax authority to arrest tax defaulters.

According to Business Recorder, the NADRA’s data can be used to detect potential tax defaulters and its officials also attended the meeting. The complete and concluded proposals would be presented before the Finance Minister for starting the exercise on a national level.

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Tax Base | Tax Evaders | Tax Defaulters | Tax Net | Pakistan | FBR | Federal Board of Revenue | Shaukat Tarin | NADRA |

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