The Federal Board of Revenue (FBR) has finalized an enforcement plan targeting unregistered high-net-worth individuals, including non-filers and those declaring zero income, in a bid to enhance revenue collection.
The move comes under the directive of Prime Minister Shehbaz Sharif. The FBR has completed its groundwork for the enforcement plan at field formation levels. Notices will be issued to high-net-worth individuals after approval from the FBR chairman, with the initial phase targeting 5,000 non-filers who reportedly owe a cumulative tax liability of Rs7 billion.
The FBR’s dedicated dashboard will track these notices, based on a desk audit of transaction data for approximately 200,000 non-filers. The top 5,000 identified individuals, who reportedly own at least three cars, earn Rs100 million in bank account profits, pay over Rs200,000 monthly on credit card bills, and send their children to private schools, will be issued notices in the coming week.
The combined net worth of these individuals is estimated at Rs26-27 billion, with each individual holding an average net worth of Rs5.4 million. The FBR anticipates collecting Rs1.4 million in income tax per individual, amounting to a total revenue target of Rs7 billion.
