On July 6, news sources said that the Federal Board of Revenue (FBR) and the National Database and Registration Authority (NADRA) have agreed to work together to send tax notices to 7 million high-income people who don’t file taxes. The NADRA will share information with the FBR so that assets in their names can be used to find people who don’t file.
Read more with EL news: Ring Road project probe takes action against ex-commissioner and CS
Reports say that the government has agreed to let the FBR use data from the NADRA database, as required by the FBR Finance Act-2022. The recently passed act says that the FBR will get information from NADRA that will be used to estimate the wealth of the country’s 7 million high-earning people who don’t pay taxes. Artificial Intelligence (AI) will be used by NADRA to estimate a person’s income based on their fixed assets, utility bills, and account transactions. The FBR will use the data to figure out how much money will be coming in.
Tax notices will also be sent to people who don’t pay. Reports say that if someone doesn’t follow FBR rules or pay the right amount of tax, the FBR will be able to freeze bank accounts and attach properties until the right amount is paid. It is important to remember that the FBR and NADRA have already agreed to share data. For the fiscal year 2022-23, the government has also set a tax goal of PKR 7.4 trillion.
Keep up with Estate Land Marketing for news and updates.