AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

The Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) have started mapping of industrial estates, export processing zones, posh commercial areas, business plazas and leading markets to bring retailers, wholesalers, distributors and exporters into the tax net.
Sources told Business Recorder here on Wednesday that the LTUs and RTOs have started full-fledged implementation of the Federal Board of Revenue (FBR) enforcement plan. For mapping of commercial areas, the field offices have started identification and categorisation of retail business on the basis of their location in various areas.
This mapping of commercial areas would make things easy for the tax department to register retailers on the basis of locations of such shops in plazas in a systematic manner. This is a kind of internal departmental survey of retail outlets for identification purposes.
The areas have been divided into different categories, keeping in view jurisdiction of the respective LTU or RTO. The FBR has also issued an enforcement plan to bring the private sector educational institutions, special industrial zones and management and consultancy firms into the income tax net.
According to sources, the FBR has directed the Directors-General of LTUs and RTOs to approach the relevant associations and trade bodies of the retail sector. The tax department would obtain lists of members of such associations to check whether these retailers, wholesalers and distributors are registered with the income tax department. The members' list would also help the department to ascertain the actual business being carried out by businessmen registered with the trade bodies/associations.
The FBR has also issued instructions to the field formations to start mapping of special industrial zones including mapping of export processing zones (EPZs) and industrial estates. This would bring all export units located within the EPZs into the income tax net. For the registration of private sector educational institutions, the FBR has decided to collect information from Higher Education Commission for Universities in private sector.
The field offices have asked the provincial educational departments and local governments to provide information about the private schools, colleges and other educational institutes. In order to register management and consultancy firms, the FBR has decided to collect information from the State Bank of Pakistan (SBP), commercial banks, financial institutions, multinational companies and federal and provincial governments.

Copyright Business Recorder, 2009

Comments

Comments are closed.