Summary Only 280 big companies and 53,000 individuals have so far filed their tax returns.
ISLAMABAD (Online) - The Federal Board of Revenue has failed to bring the big fish into the tax net as only 280 big companies and 53,000 individuals have so far filed their tax returns.
Official sources told on Sunday that 62,000 companies are registered with the Securities and Exchange Commission of Pakistan (SECP) however; only 280 companies have filed tax returns with the FBR which is very low.
The official further informed that more than three million tax payers are registered with FBR tax roll but only one percent has field their returns through e-filling.
For fiscal year 2013-14, it was essential for salaries and non salaried employees whose earnings are more than 5000,000 have to file their returns.
The source noted that couple of months back tax authority made it mandatory for people having 1000cc car a plot of 250 sq yd or 2000 sq ft flat in any municipal corporation will have to pay tax.
However, low filling shows that such directives have not been enforced effectively and shows poor performance of the FBR.
The FBR had also increased the powers of income tax commissioners and enabled them to inquire from any person to file returns of his/her income but it remained failed to achieve fruitful result, the source added.
