ISLAMABAD (Kashmir English): The Federal Board of Revenue (FBR) has decided to launch a crackdown against wealthy individuals who flaunt their wealth on social media and evade the tax net.
According to Express News, the department has prepared the data of around 100,000 wealthy individuals showcasing their luxury lifestyle online, including mansions, expensive cars, jewelry, and other assets.
FBR officials said that those who spend lavishly on weddings will also be targeted. The details of non-filer influencers have been obtained from NADRA, they said.
“The bank accounts, expenses, foreign travel, credit, and ATM cards information is already with FBR.”
According to details, the tax-collecting authority will launch a crackdown against those who do not display a lavish lifestyle in their income tax returns will be caught.
The FBR said that it will compare the returns submitted last year with this year’s, 80 percent of the total returns will be audited, and those who display their wealth will have to disclose their sources of income through tax returns.
According to FBR officials, action will be taken against those who do not disclose the increase in annual income in their returns. Such people should update their tax returns to avoid legal action, sources said.
The FBR warned that nothing will be said to those who provide updated information in their income tax returns for the time being.
