Crackdown on Tax Evasion and Fraud Leads to Arrest of Five Individuals
The Federal Board of Revenue (FBR) has launched a nationwide crackdown on tax evasion and fraud, resulting in the arrest of five individuals. Among them are the Chief Financial Officers of a prominent battery manufacturer and a major textile unit in Faisalabad, who are alleged to have been involved in significant sales tax fraud.
Speaking to ARY News, FBR Spokesman Bakhtiar Muhammad revealed that the arrests were made after court rejections of bail petitions. The crackdown is part of efforts to address the yearly tax theft in Pakistan, which Finance Minister Muhammad Aurangzeb disclosed amounts to nearly Rs7,000 billion. The minister emphasized the need to broaden the tax net and bring reforms to the tax system, highlighting the burden currently shouldered by the salary class.
The FBR aims to bring around 2.8 million potential households into the tax net, contributing approximately Rs1.6 trillion to the national economy. This move is crucial in increasing the tax share in the economy to 13.5%, as stated by the FBR spokesperson.