Preparation of action against tax defaulters complete, 10 years data of traders collected – Business & Economy

Lahore: Federal Board of Revenue (FBR) has completed the preparation of action against tax defaulters. Data of 10 years of traders has been collected. Stays taken from courts will also be expunged.

According to sources, tax defaulting traders and industrialists will receive final notices within a few days. Thousands while the annual income is in crores.

Sources say that most of the traders and industrialists have taken multiple plots and have businesses abroad, many times these traders and industrialists were given the opportunity to pay the full tax.

In this regard, the sources further say that the list of the traders of Akbari Mandi, Shah Alam Market, Azam Cloth, Anarkali and Liberty of Lahore has been prepared while the traders of Mall Road, Gulbarg, Ferozepur Road, Model Town and other areas have been prepared. The lists are also ready.

According to the sources, 10 years data of the traders has been collected, in the second phase, the traders of markets and bazaars across Punjab should be included, the courts have also been approached, after which the stays will be removed.

In this regard, the FBR officials say that according to the IMF agreement, tax to GDP is to be increased, no one will be abused or taxed, all the legal requirements have been fulfilled, they can spend now without taking tax. No, the government is serious.