KARACHI: To collect maximum income tax returns, the FBR has obtained data of around half million luxurious motor vehicles, official sources said.
The Federal Board of Revenue (FBR) is categorizing the data of about 450,000 vehicles – registered with the Karachi Motor Vehicle Registration Authority during the last three years – by capacity-wise and will compare with the returns filed by October 31. The sources said if the detected people fail to comply with the provision, they would be sent notices. The data also include all the vehicles registered under the Amnesty Scheme launched by the revenue body, he added.
A Customs official said the most of the data was collected of the vehicles having engine capacity above 1,000CC. He said that Pakistan Customs has data of such vehicles and the Board can use it for identification of potential taxpayers.
It is pertinent to mention here that through the Finance Act 2009, a clause was inserted to Section 114 of the Income Tax Ordinance 2001 under which it was made mandatory to file the income tax returns for people having ownership of vehicles with the engine capacity above 1,000CC.