FBR to initiate crackdown on non-taxable commercial property owners  


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03/03/2021 10:01 am  

According to a published news article, the Federal Tax Entry (FBR) has announced its intention to collect records of all non-taxable commercial property owners in Lahore to expand their tax base.

The tax office wants to track a landlord who has received millions of dollars in rental income but has not filed a declaration. Those involved will be subject to legal influence.

Read: LDA City Naya Pakistan Project: Approved Rs 10 billion for 4,000 apartments 

The board also contacts the Punjab Excise and Taxation Department and the Lahore Development Authority (LDA) to learn more about Lahore's commercial property owners.

In related developments, the FBR exceeded its revenue collection target by generating a revenue of PKR 291.6 billion PKR for PKR 2.8 billion PKR in the first eight months of the fiscal year (2020-21).

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