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FBR taking measures to include people who purchased cars over Rs1.5m in tax net

FBR taking measures to include people who purchased cars over Rs1.5m in tax net

MULTAN: The Federal Board of Revenue (FBR) Regional Tax Office is all set to take measures to include people who have bought cars worth over Rs 1.5 million during the last two years into the tax net.

According to the details, tax authorities of Multan acquired data of people who have bought cars worth Rs1.5 million from the Department of Excise and Taxation Punjab and local car dealers. The Federal Board of Revenue has started monitoring of acquired data of vehicle owners to bring them into the tax net. Chief Commissioner Regional Tax Office Abid Raza Bodla decided that notices will be issued to the owners who have bought expensive cars and yet escapes from getting into the tax net.

Furthermore, RTO also acquired the data of 600 luxury villa owners who are already in the tax net but failed to declare their luxury bungalows in their list of assets. Chief Commissioner has asserted that strict action will be taken against tax evaders and no one will be spared, it added.

The Regional Tax Office also started scrutiny of non-customs paid cars from the current fiscal year 2018-2019. Tax authority ordered car owners to pay their due taxes before the authorities take any action against them; otherwise they will have to pay a heavy price for the violation.

The Regional Tax Office with the assistance of Excise and Taxation Department will figure out the offenders and bring them into the tax net.

Tax authorities also warned car dealers to pay their legitimate taxes; otherwise, they will be issued notices after 28 November for action.