By Our Correspondent
ISLAMABAD: The Federal Board of Revenue (FBR) has launched a massive crackdown on jewellers and wealthy individuals showcasing luxury lifestyles on social media, vowing strict action against tax evasion.
According to FBR officials, Pakistan’s jewellery sector remains grossly under-taxed. Out of nearly 57,000 jewellers nationwide, only 20,000 are registered, and just 10,000 have filed returns. Notices have already been served in Islamabad, Rawalpindi, Faisalabad, and Multan. In one Islamabad market alone, authorities identified 50 jewellers outside the tax net.
“Traders who evade taxes will be dealt with strictly,” an FBR spokesperson warned, stressing that enforcement drives would intensify.
The crackdown also extends to wealthy Pakistanis flaunting luxury cars, designer suits, diamond jewellery, and extravagant weddings on social media. The FBR’s special team has compiled data on 100,000 such individuals, with plans to compare their lavish lifestyles with declared incomes.
Officials revealed that around 80% of tax returns will be audited this year. Anyone found concealing wealth or under-reporting income will be required to explain the discrepancy or face legal action.
FBR further reminded taxpayers that September 30 is the final deadline for filing income tax returns, urging citizens to submit “honest and accurate declarations” to avoid penalties.
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