It is high time FBR acted wisely, plugged loopholes in tax structure in order to bring tax evaders into the tax net.
LAHORE: Income tax evasion by the rich and elite class of the country is a matter of high concern and highlights a culture of disregarding the law, which has taken roots in our society. The fact is that 2.38 million people in our country, who have considerable wealth and should be included in the tax net, pay no income tax. Another interesting fact is that among the three million people holding a National Tax Number (NTN), only 1.4 million filed income tax returns last year.
These figures come as no surprise. Pakistan, after all, is among the countries having the lowest tax-to-GDP ratios. Further, officials of the Federal Board of Revenue (FBR) either do not bother bringing these influential people into the tax net or lack the capacity and will to carry out their assignments for which they are paid huge sums from the exchequer. It is high time that the FBR acted wisely and plugged the loopholes in the tax structure in order to bring tax evaders into the tax net.
Sajid Hussain
Published in The Express Tribune, October 16th, 2012.
