For the first time, the Federal Board of Revenue has decided to register contractors of roads/bridges/ buildings, cinematographic films business, artistes/cinemas/theatres and check the supply chain of pharmaceutical industry for documentation of potential persons engaged in business of drugs/medicines and other pharmaceutical items.
Sources told Business Recorder here on Saturday that the FBR's national enforcement strategy communicated to the Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) has decided to focus on pharmaceutical sector for documentation purposes. The sources of information about the pharmaceutical sector would include pharma guides, Pharmaceutical Manufacturers Association, Business Directories and print media. Based on the available information from these sources, all potential persons engaged in the business and imports/supplies of pharmaceutical products would be brought within the documented regime.
In case of contractors, the FBR will approach different government organisations and departments for obtaining information about the persons involved in contracts and supplies. The contractors of roads/bridges/buildings have been given top priority for documentation purposes. The FBR will immediately contact National Highway Authority (NHA), Frontier Works Organisation (FWO), city governments, development authorities, provincial director general roads and cantonment boards/defence housing authorities for obtaining data of their contractors.
To obtain information about the contractors of buildings, the FBR will analyse data of the annual development plan (mega projects), city governments, cantonment boards, development authorities like KBCA, LDA and CDA etc, provincial governments' project directors for foreign funded projects.
In order to bring cinematographic films, artistes and cinemas within the documented regime, the FBR would obtain all necessary information from the Central Censor Board, provincial excise departments and All Pakistan Association of Film Makers under the relevant provisions of the Income Tax Ordinance 2001. Similarly, the FBR will register drama makers, artistes and persons involved in theatre business with the help of data available with the provincial excise departments and TV stations.
The studio business and artists would also be documented with the help of provincial excise departments, TV stations and advertising agencies. When contacted, a tax expert said that under national enforcement plan the FBR has not included toll plazas contracts at different highways especially motorway contracts of which are given in billions after bidding.
Comments
Comments are closed.