ISLAMABAD – The Federal Board of Revenue (FBR) has initiated action against jewelers evading taxes, and issued notices to them in several major cities.
The officials said that the tax authority has sent notices to jewelers in Rawalpindi, Islamabad, Faisalabad, and Multan, and directed them to explain discrepancies in their tax records.
The move comes as part of a broader crackdown on tax evasion in the gold and jewelry sector.
In a parallel development, the FBR also carried out a raid on a leading real estate company in Islamabad as part of its ongoing enforcement drive.
Earlier reports revealed that the FBR had gathered data of 60,000 jewelers across the country.
Of these, only 21,000 are registered with the authority, while just 10,524 filed their tax returns.
Sources within the department disclosed that many jewelers were deliberately underreporting their income to avoid taxation.
As part of the crackdown, the FBR has prepared an initial list of 900 jewelers in Punjab who will face enforcement measures in the first phase of the operation.
