Amid Prime Minister Shehbaz Sharif’s government’s strenuous efforts to expand the tax net and increase revenue generation, Federal Bureau of Revenue (FBR) Chairman Rashid Mahmood Langrial has revealed that the country faces a mammoth tax gap of Rs7.1 trillion.
Speaking at a press conference in Islamabad on Thursday, the FBR chief said that the income tax gap stood at Rs2.4 trillion.
Underscoring the reforms in the tax sector, Langrial revealed that the tax authority issued notices to 19,000 people, out of which 38,000 submitted their tax returns amounting to Rs370.7 million.Play Video
“Our focus is on the top five per cent,” he said while warning that action would be taken against those who didn’t file their tax returns.
Flanked by Federal Finance Minister Muhammad Aurangzeb, State Minister for Finance and Revenue Ali Pervaiz Malik and Information Minister Attaullah Tarar, the FBR chairman underscored the reforms in the tax sector, saying that the authority was digitising the invoicing process and was digitally monitoring the sugar industry.
