By WEB DESK: In the current fiscal year, the Federal Board of Revenue (FBR) has collected over Rs 10 billion through cash withdrawals by citizens. This sum, collected as advance tax, primarily targets customers with bank central offices in Karachi.
The FBR has implemented a 0.6 percent advance tax on daily cash withdrawals exceeding Rs 50,000. Additionally, non-filers face a flat tax of Rs 300 on such transactions. Those not listed on the Active Taxpayer List (ATL) are also subject to withholding tax deductions by the FBR.
Read More: Pakistan’s rupee emerges as Asia’s strongest currency
The FBR’s crackdown on non-tax filers extends beyond banking transactions. In collaboration with cellular companies, over 11,000 SIM cards belonging to non-filers have been blocked.
Initially, telecom companies, acting on FBR directives, blocked over 3,000 SIM cards of citizens who failed to file income tax returns. This was followed by the blocking of an additional 9,000 SIM cards, totaling 11,252.
1 Comment