FBR registers 55% increase in tax returns

[naveed]

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday said that it has registered a landmark 55 percent increase in the number of Income Tax returns filed until October 10, 2018 as compared to the corresponding period last year.

“FBR has until 10.10.2018 received 482,275 Income Tax returns for the Tax Year 2018, which are 170,208 more than the 312,067 Income Tax returns received for Tax Year 2017 by the same date, registering an impressive increase of 55%,” reads a statement issued by FBR

The FBR statement said that the increase in the filing of income tax returns envisages the confidence of taxpayers upon the policies of the government, FBR, as well as the stability of e-filing system.

FBR, as a part of its ongoing strategy, is committed to providing seamless availability round the clock by using modern techniques to bring about efficiency and effectiveness in tax collection.

It is pertinent to note here that FBR has also launched a crackdown on non-taxpayers on the instruction of Federal Minister for Finance, Revenue and Economic Affairs Mr Asad Umar as part of the government’s efforts to widen the tax net.

In the first phase, strict action is being taken against 169 tax evaders and non-filers with proven trail of large business transactions and financial deals made by them in recent times. All such tax evaders have been identified by the FBR and are being proceeded against for recovery of payable tax besides being subjected to heavy fines and penalties for failing to fulfill their tax obligations.

The FBR had also decided to start action, in a phased manner, against all those tax evaders who have purchased properties over Rs 20 million, or purchased 1800 CC or larger engine cars, or received rent to the tune of Rs 10 million or more in a year but not bothered to file their tax returns; therefore not in the list of taxpayers. The drive for the recovery of tax from these big tax evaders is being launched across Pakistan without any discrimination.

The FBR had warned the tax evaders to file their tax returns and pay their due taxes within the due date as the government is committed to reviving the national economy by introducing and promoting a healthy tax culture under which all Pakistanis pay their due taxes and contribute to the socio-economic development of the country.

https://arynews.tv/en/fbr-registers-55-increase-in-tax-returns/

 

[miafridi]

Now this is the real tabdeeli and real policy of the "Naya Pakistan".

Pakistan ko qarzay utarnay k liye jo naye qarzay chahiye oskay liye current government ko criticize karna banta hi nahi hai. Yeh crisis toh pichli government ka peda kiya huwa hai.

 

[aleemiqbal]

Good

 

[Nice2MU]

Now this is the real tabdeeli and real policy of the "Naya Pakistan".

Pakistan ko qarzay utarnay k liye jo naye qarzay chahiye oskay liye current government ko criticize karna banta hi nahi hai. Yeh crisis toh pichli government ka peda kiya huwa hai.

یہ بات اس چول موٹے پینڈو روف گلا سڑا کو بھی سمجھا دے کہ کھلاڑی سے فرق نہیں پڑتا بلکہ کپتان سے فرق پڑتا ہے۔۔۔۔۔۔۔۔۔ اگر کپتان گنجے جیسا ہو تو نتیجہ وہی ہوگا جو آخری 10 سال ہوا تھا اور اگر کپتان عمران جیسا ہوگا تو وہی کھلاڑی وننگ کھلاڑی بن جاتا ہے۔



https://www.siasat.pk/forums/thread...so-part-of-asad-umer-team-rauf-klasra.653833/

 

[lurker]

Now this is the real tabdeeli and real policy of the "Naya Pakistan".

Pakistan ko qarzay utarnay k liye jo naye qarzay chahiye oskay liye current government ko criticize karna banta hi nahi hai. Yeh crisis toh pichli government ka peda kiya huwa hai.

Thats what the pichli government said about the pichli government. lol. Infact that's what EVERY successive Pakistani government has said about the prior government. That and whichever government loses alleges Dhandli. That too is another constant in pakistan.

Its good that more people are filing taxes, but I have doubts its due to confidence in the new government. It has more to do with the regulations that have been made more tighter to force people to file the taxes. Nobody likes paying taxes.

Pakistan needs to address the elephant in the room - Defense Budget.

 

[hawkinthesky111]

Thats what the pichli government said about the pichli government. lol. Infact that's what EVERY successive Pakistani government has said about the prior government. That and whichever government loses alleges Dhandli. That too is another constant in pakistan.

Its good that more people are filing taxes, but I have doubts its due to confidence in the new government. It has more to do with the regulations that have been made more tighter to force people to file the taxes. Nobody likes paying taxes.

Pakistan needs to address the elephant in the room - Defense Budget.

why it is elephant???
shed some light??? oh you are Endian... sorry ...

 

[lurker]

why it is elephant???
shed some light??? oh you are Endian... sorry ...

I am about to do you a great favor. I am about to teach you something new. Behold!
Elephant in the Room
https://dictionary.cambridge.org/us/dictionary/english/an-elephant-in-the-room

And imagine if Pakistan can cut massive defense spending, what all you can do with that money? As far as India is concerned, forget about them. The real war is if you can make money off them. Figure that out and you've beaten them.

I am "Endian"? I didn't know Lahore was part of India. lol.

 

[surfer]

I've posted this on a few threads.
Because of OECD and CRS, Pakistan is now getting information from UK, UAE and other countries on Pakistani nationals bank accounts and properties.

I personally know of someone who had a property in UK (bought legitimately through bank trasnfers) who were not aware that they had to declare it and pay tax on income. They are now going to file thier tax return this month. It's another matter that they don't have to pay tax because of double taxation rules with UK, but they fact is that they are going to become tax filers.

Imagine how many others are getting these letters from FBR and will now start filing and paying taxes.

But the media will not highlight this as someone filling a form in does not make for masala optics.

 

[miafridi]

Thats what the pichli government said about the pichli government. lol. Infact that's what EVERY successive Pakistani government has said about the prior government. That and whichever government loses alleges Dhandli. That too is another constant in pakistan.

Its good that more people are filing taxes, but I have doubts its due to confidence in the new government. It has more to do with the regulations that have been made more tighter to force people to file the taxes. Nobody likes paying taxes.

Pakistan needs to address the elephant in the room - Defense Budget.

Of course that's what every Government said about every previous government, and we believed them because they were right, and similarly this government of PTI is right too about this mess created by the previous government. The talk of getting a loan from IMF started even before the end of the PML-N government who left it for the Care taker government to decide, while the caretaker government left the decision for the new government. So how do you blame PTI for it? Blame them only if they don't use this loan wisely to change the lives of people and only when they complete their 5 years but Pakistan is still in turmoil, just like it happened in both PPP and PML-N's era.

 

[Xiggs]

Tax filing must be made mandatory for all pakistani citizens irrespective of their income levels. If FBR is lenient in ammatter like this, it would only show thier reluctance to bring more people in to tax net. Start penalizing people, espcially the big fish, who fail to submit tax returns. Increase the number of tax audits manifold and make the rich sweat in those audits.

In developed countries tax evasion is considered worse than murder. a person can get away with a murder but once a tax evader is identified, tax authorities make his/her life a living hell.

We should mimic west in these practices if we wish to improve the quality of life in Pakistan for the honest people.

 

[lurker]

All I am saying is so far the PTI is doing exactly what each successive government has done. Where is the Tabdeeli ?

Of course that's what every Government said about every previous government, and we believed them because they were right, and similarly this government of PTI is right too about this mess created by the previous government. The talk of getting a loan from IMF started even before the end of the PML-N government who left it for the Care taker government to decide, while the caretaker government left the decision for the new government. So how do you blame PTI for it? Blame them only if they don't use this loan wisely to change the lives of people and only when they complete their 5 years but Pakistan is still in turmoil, just like it happened in both PPP and PML-N's era.

 

[lurker]

In developed countries tax evasion is considered worse than murder. a person can get away with a murder but once a tax evader is identified, tax authorities make his/her life a living hell.

Why would people pay taxes to Pakistan? What do they provide them? Free medical? Social security? Free education for children? Develop nations who tax their citizens heavily, Improve lives of their citizens too. We are Pakistani. We don't make good planners and managers. We don't have confidence in the government. It will squander the money; like it does even with the ones who do pay taxes.

 

[Xiggs]

Why would people pay taxes to Pakistan? What do they provide them? Free medical? Social security? Free education for children? Develop nations who tax their citizens heavily, Improve lives of their citizens too. We are Pakistani. We don't make good planners and managers. We don't have confidence in the government. It will squander the money; like it does even with the ones who do pay taxes.

If that's the mentality then there's no hope.

 

[miafridi]

All I am saying is so far the PTI is doing exactly what each successive government has done. Where is the Tabdeeli ?

What tabdeeli did you expect?

 

[lurker]

What tabdeeli did you expect?

How about not taking any more debt? Cut defense spending drastically? Reduce taxes on renewable energy and for God's sake Repeal Hudood and Blasphemy Laws - but for this I doubt Imran has the stones to do; as evidenced by his recent Islamization and the cowardly act of removing a Man he himself placed on Merit because of Religion. So yeah, Imran doesn't imbue me with confidence in his vision or execution.

 

[miafridi]

How about not taking any more debt? Cut defense spending drastically? Reduce taxes on renewable energy and for God's sake Repeal Hudood and Blasphemy Laws - but for this I doubt Imran has the stones to do; as evidenced by his recent Islamization and the cowardly act of removing a Man he himself placed on Merit because of Religion. So yeah, Imran doesn't imbue me with confidence in his vision or execution.

Ok You are newly elected PM, You need to payback around $10-12 billion in the next 2 months, how do you plan to collect this money within 2 months without disrupting the normal routine expenditures of the country?

 

[lurker]

Ok You are newly elected PM, You need to payback around $10-12 billion in the next 2 months, how do you plan to collect this money within 2 months without disrupting the normal routine expenditures of the country?

What happens if you don't pay this in 2 months time? ;)

 

[miafridi]

What happens if you don't pay this in 2 months time? ;)

Ziada toh Government officials ko hi pata hoga, but I think you are then put into defaulters list, and are subjected to heavy fines as well, Investors stop investing thinking you have defaulted and so any investment has a high risk of loosing, So end result is, like : you were earning 10 rupees before, now you will earn 8 rupees because investors have stopped investing, and out of that 8 rupees another 2 rupees will further be given as fines, so you are now earning 6 rupees, while your expenditures are still 10-12 rupees. Meaning your country will default, stop paying employees and there will be chaos, people will start loosing or leaving jobs etc etc. This is what happens to any company when they default.

All this can be saved just by taking loan with the intention that you will make long term policy so that using that loan next time you will be able to earn like 20 rupees, of which you will spend 10 rupees, payback 5 rupees in loans and save the other 5 for better future.. This is what better policies do to you, but fruits of policies can only be known to you after months or years. Right now you had to collect $10 to $12 by any means possible. They waited for Chinese, and saudis to help but they didn't promise anything right away, which is understandable, because no one gives you money right away and that also without any benefit for themselves. You could only get some friendly deals like oil on deffered payments, but that still doesn't solve your problem of the immediate need of that $10 to $12 billion rupees which you have to get no matter what..