Unregistered enterprises are the target of the FBR’s announcement of action.

According to the information provided, the crackdown will target individuals who are running business under benami, which is an abbreviation for “undisclosed ownership,” or fictitious names.

For the purpose of gathering information on enterprises that are not registered, the Federal Bureau of Revenue (FBR) authorities have stated that third-party data collection methods will be utilized. There are only 300,000 firms in Pakistan who are registered for sales tax, according to the most recent figures from the Federal Board of Revenue.

Following the first of October, the FBR intends to register an additional three million shopkeepers for the federal sales tax. Additionally, the board will make certain that the benami meters for gas and electricity are transferred to the rightful owners immediately.

An implementation of a biometric system will be carried out by the Federal Board of Revenue (FBR) in order to expedite the registration of sales tax and to collect information regarding bank accounts that are linked to shops and companies. Moreover, in order to guarantee compliance, documents of the rental and lease agreements for stores will be provided.

Earlier, the Federal Board of Revenue issued a warning to the general public to avoid rushing at the eleventh hour and advised them to submit their income tax forms before the deadline without being allowed any extensions.

In order to stimulate Pakistan’s economy, the spokesperson for the Federal Board of Revenue (FBR), Bakhtiar Muhammad, advised taxpayers to file their taxes by the 30th of September, 2024.

A culture of tax compliance is essential to the continued growth and stability of the nation’s economy, and the government intends to foster this culture by taking this action.