CNIC condition on purchases remain part of law, deferred till September: FBR chairman

CNIC condition on purchases remain part of law, deferred till September: FBR chairman

KARACHI: The chairman of Federal Board of Revenue (FBR), Shabbar Ziaid on Wednesday said that condition of providing Computerized National Identity Card (CNIC) on purchase of above Rs50,000 is remain part of law.

“However, its application has been deferred till September 30,” he said at an event organized by Management Association of Pakistan (MAP).

He categorically said that the condition would not be withdrawn and he termed that it would result in massive compliance by persons having taxable income but not on the tax roll.

The FBR chairman said that due to measures taken by the revenue body the number of return filers had increased beyond 2.5 million.

He said that the tax authorities were making all out efforts to make procedure easy for return filing to further increase the number of return filers in the country.

The chairman said that much of work against benami assets had been done. “The FBR is further accelerating actions against benami assets holders,” he added.

He said that the prime minister had also issued instructions to take action against holders of Benami assets.

Besides, he said, banks were also asked to provide details of benami bank account holders.

The chairman said that the FBR had launched monitoring sales and purchases in sales tax and federal excise regimes.

Shabbar Zaidi said that in order to resolve the issues of small traders, two different schemes had been proposed.

He said that that efforts had been made to bring people in all sectors of economy into tax net. In this regard notices have been issued to educational institutions, doctors, engineers and lawyers.

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