Ijaz Kakakhel Islamabad
Federal Board of Revenue Chairman Rashid Langrial admitted to corruption within the department on Tuesday.
“Corrupt practices are still going on in FBR,” Rashid Langiral said while briefing the National Assembly’s Standing Committee on Finance.
Langrial told the committee body that the changes in tax laws are intended to increase the tax base, targeting higher-income individuals and those engaged in significant business transactions.
Under the new laws, FBR officers are being granted additional powers to address issues of black money and tax evasion, he added.
The FBR chairman noted that non-filers will be restricted from engaging in economic transactions, such as purchasing cars or property and making investments.
He also highlighted that non-filers will be unable to participate in the formal economy, reinforcing the government’s efforts to formalize business activities and curb the black economy.
The cabinet has also been given the authority to recruit auditors to strengthen tax collection processes. Langrial mentioned that a detailed review of the bill will take place in the cabinet before any final decision is made.
Finance Minister of State, Ali Pervez Malik, stressed that addressing the imbalance in the tourism economy and halting vehicle purchases with black money are essential steps for the country’s economic sustainability.
