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Number of taxpayers increased to 1.5 million in 2018

Number of taxpayers increased to 1.5 million in 2018

ISLAMABAD:  The number of taxpayers in the country has increased to 1.5 million in 2018, while around 1.3 million of taxpayers had filed their tax returns till June 30, 2017, it is learnt here.

Official sources told Customs Today that Federal Board of Revenue (FBR) is taking measures to raise the cost of doing business for non-filers so that they are compelled to become part of the tax system.

Source further added that in 2018, around 1.5 million of Pakistani citizens filed their tax returns, where FBR has collected Rs3,840 billion during previous FY2017-18.

The previous government had assigned Rs4450 million revenue collection target in the federal budget FY2018-19. On the other hand, the current government of PTI has planned to increase the revenue collection to Rs8,000 billion within its five-year tenure.

Sources also highlighted that it is difficult to collect Rs8,000 billion with 1.5 million of taxpayers. Government highly needed to expand the number of taxpayers further to hit the planned figure, they added.

It is important to mention here that FBR had adopted a broad range of measures and took steps in recent months to broaden the tax base. FBR believed that there is a tax potential in the country and efforts are directed to explore all possibilities for realizing this potential. FBR had also taken measures to create distinction between filers and non-filers by raising the cost of doing business for non-filers.