ISLAMABAD (Kashmir English): The Federal Board of Revenue (FBR) has decided to monitor all buying and selling transactions on social media sites starting from January 1, in order to reduce tax evasion, sources told *The News* yesterday.
According to reports, the tax authorities will use the tactic of pretending to be customers in order to track people and companies that conduct such unregistered or undocumented business activities.
By using this tool, traders will be identified through their email and mobile contacts and other digital footprints.
Sources further added that an appeal is to be made to the National Database and Registration Authority (NADRA) to help identify sellers on social media sites.
The information that will be gathered will be useful in tracing those involved in e-commerce and those who are violating tax rules.
According to reports, this is meant to enhance transparency, promote equal taxation, and protect businesses that are registered and operating within the law.
E-commerce vendors will be advised to finalize their FBR registration and comply with their tax obligations to avoid any penalties.
It is believed by experts that this move would lead to more regulation within the burgeoning online business community and would prove to be contributory to the national exchequer.
