ISLAMABAD: The government has extended the period of Federal Board of Revenue’s (FBR) tax amnesty scheme by one month i.e. till July 31 just to provide a chance to more and more people to join the tax net otherwise people will have to face the strong action from the tax authority.
In this regard, FBR has started extensive strategy to tighten noose around the tax evaders and the potential people who would have not declared their both foreign and domestic assets and not joined the tax net.
A source at FBR told Customs Today that concerned wings and departments of FBR had become active in the finalization of strategy to nab the non-declaring people soon after the end of limit of tax amnesty scheme.
In this regard, the source said that FBR had collected data around 14,000 top real estate agents and started strict monitoring of their financial transactions. Nowadays, scrutiny of the collected data is underway because people have shown interest in this scheme in the current week keeping in the mind that they may benefit from the scheme by declaring their assets.
“Harsh enforcement will start with the end of this scheme and complete planning is under discussion,” the source said, adding that FBR’s whole enforcement was preparing teams to conduct raids in collaboration with customs to nab tax evaders and smugglers.
Despite ban on the transfers and postings of the officers, the source said that FBR’s officers had started preparation of strategy to have access to the financial transactions of the potential taxpayers. The concerned officials have also started discussions with the State Bank of Pakistan to get a directive for the scheduled banks to share data of financial transactions with FBR.
“No concession will be given to non- declaring people,” the source said, adding that principally, tax amnesty scheme is a warning to the people to join tax net.
“FBR has also planned to get access to international database,” the source said, adding that FBR would also contact with the Election Commission of Pakistan (ECP) to share the declaration of assets submitted by candidates of different political parties with FBR for counter checking and cross matching.
“In case of any discrepancies or miss-declarations by the candidates, FBR will take stiff and harsh stance in nabbing the tax evaders,” the source maintained.