10-16-2008, 04:49 AM
SOHAIL SARFRAZ
ISLAMABAD (October 16 2008): The Federal Board of Revenue has constituted special cells in each Large Taxpayer Units and Regional Tax Offices to collect data on real estate sector and electricity/gas consumption by commercial and industrial consumers to bring all potential units into the tax net.
Sources told Business Recorder on Wednesday that the decision was taken in the last national tax conference to set up special cells in each tax office in the field formations. The proposed special cell would be empowered to conduct internal surveys on the basis of data available with them.
Special cells would verify information on purchasers of property and other transactions within the real estate sector. The buying and selling of property would be checked to document investors in such transactions. The data on purchasers of new vehicles, insurance companies, connections of electricity and natural gas by the commercial and industrial consumers and other data would be verified to broaden the tax base.
According to sources, the commercial and industrial consumers of electricity and natural gas have to obtain the National Tax Numbers. During survey, it would be verified that whether all such industrial units have obtained NTNs from the department.
However, special cells would be equipped with necessary tools to effectively carry out this exercise in the field formations. As far as non-filers are concerned, notices would be served on them under Income Tax Ordinance 2001 to ensure compliance. Moreover, audit and motoring would also be done to ensure compliance by potential taxpayers.
http://www.brecorder.com/index.php?id=821302
ISLAMABAD (October 16 2008): The Federal Board of Revenue has constituted special cells in each Large Taxpayer Units and Regional Tax Offices to collect data on real estate sector and electricity/gas consumption by commercial and industrial consumers to bring all potential units into the tax net.
Sources told Business Recorder on Wednesday that the decision was taken in the last national tax conference to set up special cells in each tax office in the field formations. The proposed special cell would be empowered to conduct internal surveys on the basis of data available with them.
Special cells would verify information on purchasers of property and other transactions within the real estate sector. The buying and selling of property would be checked to document investors in such transactions. The data on purchasers of new vehicles, insurance companies, connections of electricity and natural gas by the commercial and industrial consumers and other data would be verified to broaden the tax base.
According to sources, the commercial and industrial consumers of electricity and natural gas have to obtain the National Tax Numbers. During survey, it would be verified that whether all such industrial units have obtained NTNs from the department.
However, special cells would be equipped with necessary tools to effectively carry out this exercise in the field formations. As far as non-filers are concerned, notices would be served on them under Income Tax Ordinance 2001 to ensure compliance. Moreover, audit and motoring would also be done to ensure compliance by potential taxpayers.
http://www.brecorder.com/index.php?id=821302