LAHORE: The Federal Board of Revenue (FBR) has initiated action against jewellers across Pakistan after compiling data on more than 60,000 businesses in the sector, amid concerns of large-scale tax evasion.
According to officials, only 21,000 jewellers are registered with the FBR, and just 10,524 have filed tax returns. Many traders are accused of either remaining outside the tax net or declaring unrealistically low incomes that do not align with their businesses, spending, or lifestyle.
In the first phase, the crackdown is targeting jewellers in Lahore, Rawalpindi, Faisalabad, and Multan. A list of 900 traders in Punjab has already been prepared, and notices have been issued, asking them to justify their declared income levels.
The FBR stressed that the purpose of the campaign is to ensure all sectors contribute fairly to the economy, not to single out any group. Officials added that Pakistan’s economic stability depends on every individual paying their due taxes.
The move follows recent announcements that the FBR would also act against individuals flaunting wealth on social media or spending extravagantly on weddings.
