Low tax paying business firms will be monitored strictly from now on after a decision taken by the National Board of Revenue (NBR) in this regard.
NBR has directed its field offices to further increase its intensive monitoring on the business organisations that are lagging behind in paying tax as the second quarter of the current fiscal has gone.
A senior official of NBR, preferring anonymity, said, “The NBR chairman has given the directives to the field offices to intensify monitoring on the business entities that are showing slower or negative growth.”
The official of the revenue collecting authority further said that they have information that a good number of business organisations are paying lower revenue.
He said if revenue collection, tax and VAT, from these business houses can be boosted up it would help the revenue collecting authority to fetch significant amount of revenue to touch its target for the running fiscal.
“To attain the huge revenue target the NBR has no other option to increase its revenue collection from the existing pockets along with widen its VAT and tax net,” the senior official said.
The NBR official mentioned that strengthening of monitoring would not be a tough job for them as the NBR already has the data of the business houses which are paying less tax.
“We believe that if we can monitor these business houses it would not be a tough job for us to improve the revenue collection,” he added.