KARACHI: Mohammad Jehanzeb Khan, Chairman, Federal Board of Revenue (FBR) on Saturday said that the revenue body recovered Rs1.85 billion from tax evaders.
Talking at Federation of Pakistan Chambers of Commerce and Industry (FPCCI), he said that the revenue body had issued 6,000 notices for recovery of Rs3 billion.
The chairman said that the government was endeavoring to increase trade volume in Balochistan and the FBR was considering to increase the customs staff in the province.
Talking about sales tax refunds, he said that this amount was not belong to FBR and it had to be reimbursed.
The chairman said that penalty would not be imposed on those taxpayers who applied for reviewing their income tax returns.
Dilating upon Benami assets, he said that a separate section in the law was being creating for benami assets. He said that under this law the FBR would able to seize the undeclared assets in someone else names.
Jehanzeb Khan said that the FBR was facing a shortfall of Rs 220 billion.
He said that the FBR was enhancing capacity in customs clearance. The chairman said that work had been started to eliminate under invoicing. Further valuation on imported goods has also been streamlined, he added.
The chairman said that FATF issue was important and the customs authorities had made efforts in this regard.