ISLAMABAD: The Federal Bureau of Revenue (FBR) Chairman Rashid Mahmood Langrial has disclosed that the nation confronts a massive tax shortfall of Rs7.1 trillion, despite Prime Minister Shehbaz Sharif’s administration’s intense attempts to broaden the tax net and boost revenue production.
The head of the FBR stated that the income tax disparity was Rs2.4 trillion during a news conference held in Islamabad on Thursday.
Highlighting the tax reforms, Langrial disclosed that 38,000 of the 19,000 individuals who received letters from the tax authorities filed tax returns totaling Rs370.7 million.
He stated, “Our focus is on the top five per cent,” and threatened to take action against individuals who failed to file their taxes.
