Islamabad: According to a news published on 10-10-2023, the Federal Board of Revenue (FBR) has initiated an audit of retailers and real estate taxpayers to identify and take action against the tax evaders.

Read More: WB Suggests Pakistan to Increase Taxation on Property, Agriculture Sectors

According to official sources, the FBR has designed a new strategy for retailers and real estate taxpayers who file income and sales tax returns. Following their new initiative, the Federal Board office will audit retailers’ income and sales tax records. The Revenue Board officials have strongly advised the tax fillers to practice the utmost diligence while filling their Income Tax and Sales Tax returns to avoid errors.

Read More: Govt to Impose Wealth Tax on Moveable Property

Moreover, FBR officials have planned a robust strategy to instantly identify tax evasion within the real estate sector. The bureau’s previous tactics of identifying evaders were through the balloting process. However, the tax offices can now initiate audits of real estate taxpayers based on their discretion.

For more news and updates, please visit Wirasat.