Bank Deposits Worth Rs750 Billion Found
Federal Board of Revenue Chairman Rashid Mehmood Langrial has made a major disclosure.
He said 9,000 Pakistani citizens held bank deposits worth Rs750 billion.
However, these individuals filed zero tax returns.
The statement was made during a meeting of the National Assembly Standing Committee on Finance.
The meeting was chaired by MNA Syed Naveed Qamar.
FBR Chairman Flags Underreported Income
The FBR chairman said 98.9 percent of filers willfully showed less income.
He called it a serious issue for the tax system.
Langrial also said 80 percent of filers declared expensive property in their returns.
The remarks raised fresh concerns over tax compliance in the country.
Faceless Tax Filing System Planned
The FBR has decided to introduce a faceless tax filing system.
The new system aims to reduce direct contact between tax officials and taxpayers.
Officials believe the move will improve transparency.
It may also help reduce pressure, influence, and misuse in the tax process.
