The Federal Board of Revenue (FBR) has failed to chase 12,300 people who had black money but could not timely register asset declarations. Despite dropping Rs2.6 billion in taxes, they failed in declaring assets following the last amnesty scheme.
FBR fails to hold onto thousands of people who opted for tax amnesty!
These people had tendered bank challans to benefit from the Imran Khan government’s 2019 tax amnesty scheme but could not file information of assets, which divested them of utilizing the scheme.
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Moreover, the Federal Board of Revenue (FBR) has the location of these people. However, the FBR didn’t call or trace them and is enjoying the benefit of Rs2.6 billion deposited by them.
Besides, the Federal Board of Revenue (FBR) has failed to increase the income tax net that actually contracted to 12%. The institution is merely busy forcing current taxpayers to intensify tax collection.
This year only 2.5 million people filed income tax returns against 2.82 million in the year 2018. This led to a shortage of 12%.
On Tuesday, a complaint was made to the Federal Board of Revenue (FBR) headquarters by the Karachi Tax Bar Association. As per the complaint, the FBR has ended giving exemption from the advanced income tax reduction on the import of raw matter, plant and machines.
In the name of a system fault, the Federal Board of Revenue (FBR) has already closed clearance of sales tax returns of exporters for the last 22 days under; revealed by Pakistan Textile Exporters Association Secretary-General Azizullah Gohar.
The dismal performance of FBR!
The dismal performance of the Federal Board of Revenue (FBR) is a question mark on the integrity of the Pakistan Tehreek-e-Insaf (PTI) government. Although, Imran Khan has left no stone unturned in strengthing the organization, why the performance is below-par then? As per many analysts, PTI has failed in running the country on a smooth basis.
First, it was the ouster of Asad Umar and then Imran Khan did rapid changes in the economic division. These steps did not hinder the economic turmoil. There is a dire need to revamp the Federal Board of Revenue (FBR) along with other economic departments otherwise, the FBR will further fail in improving the tax net.
The informal and undocumented economy is the significant failure of the Federal Board of Revenue (FBR). The failure to bring 12,300 people into the main net despite their black money.
Anyhow, FTO Mushtaq Ahmad Sukhera has taken note of the unresolved amnesty assets. As per a statement issued by the FTO office, the FTO is taking action owing to took 300 complaints. Consequently, The FBR officers informed the FTO office that the declarations cannot b accepted as the amnesty scheme has expired.
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FTO Sukhera called a meeting with members of the Federal Board of Revenue (FBR) to know their perspective. The FBR told that its PRAL system was working fine; therefore, there is no possibility of not accepting the filing declarations.
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