Tuesday, August 9, 2022

New government measures against tax evaders

The government has cracked down on those who do not pay taxes. Those who do not pay taxes will have to pay two hundred and fifty percent additional tax on the purchase of property

Those who do not pay taxes will have to pay 250% additional tax on the purchase of property. Two hundred percent additional tax will be levied on the purchase of a car.

Those who have more than one property worth Rs 25 million will also be taxed. Five percent of the market value of the property will be considered rent or fixed income and will be taxed at one percent.

NADRA will determine the dues by calculating the income and assets of a person. The FBR will collect the dues determined by NADRA. FBR will take action against non-payers. FBR and NADRA will exchange information.

NADRA and FBR will enter into an agreement for the safe use of information. The FBR will be able to share NADRA’s information with its respective authorities. Done or not.

NADAR will also determine whether the value of assets is different from the government rates. NADRA will also determine its actual value according to the market. NADRA will calculate the income and tax of any person.

NADRA will be able to use Artificial Intelligence or any modern method. FBR will inform the concerned person about the tax levied by NADRA.

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