‘Treasure Trove’ to capture real income people

Islamabad: Government would capture information of ‘real incomes people’ through Treasure Trove.

The information about 53 million people will be available on web portals of Federal Board of Revenue (FBR) and National Database and Registration Authority (NADRA), FBR Chairman, Shabbar Zaidi while addressing a press conference informed.

The nature of data available on NADRA website is different from information available on FBR’s website.

NADRA has not been granted access to bank accounts of citizens, as it does not have such mandate.

Zaidi said that government would ensure confidentiality of this data and its access would be given to individual to whom information relates to.

Zaidi also said that the information will not become base for any tax assessment but it can be used while assessing tax liability of a person.

But FBR has got information of about 50 million bank accounts that it wants to use to assess real incomes of people.

Due to FBR’s capacity constraints, it will not be able to go after all people.

FBR Member Inland Revenue Policy, Dr Hamid Atiq Sarwar said that in July, FBR would go after 50 people.

Government wanted to utilise information to enhance tax base from less than two million to four million by end of fiscal year 2019-20.

It is not for the first time that the Pakistan Tehreek-e-Insaf (PTI) government has made claims about “treasure trove” of information of people who are outside the tax net. Earlier, the government had claimed that it received information of about 152,000 bank accounts from Organisation for Economic Cooperation and Development.

NADRA would charge Rs500 from every person who requests to see his information, unlike FBR which would not charge any amount.

Under 1973 Constitution, federal government cannot tax agriculture-based income.

 

 

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