Nearly 12m file tax returns solely for property, vehicle transactions
ISLAMABAD: The Federal Board of Revenue’s (FBR) astonishing data disclosed that nearly 12 million income tax return filers have filed returns only to carry out one-time financial transactions for purchasing/selling immovable properties/vehicles. Sources said that the FBR’s system constantly issuing notices to registered persons ( about 12 million of them - who registered and became filers for a…
Islamabad witnessed a staggering revelation from the Federal Board of Revenue (FBR) that nearly 12 million individuals have filed income tax returns solely for the purpose of purchasing or selling immovable properties or vehicles. These taxpayers, registered as filers for a single transaction, constitute about 12 million individuals. However, only approximately 7.5 million of them maintain continuous filings.
The FBR's system consistently issues notices to these registered persons, but non-compliance is typically noticed when a "stop-filer" reactivates their IRIS account for a new transactional filing. Business Recorder reported that non-compliance and erratic behavior by taxpayers may lead to the need to cleanse the system by removing the requirement of filing for non-income earners.
In an attempt to address this issue, the FBR introduced the concept of "restrictions on economic transactions" in the Finance Act 2025. However, this initiative was compromised due to political economy constraints. If implemented, only spouses and dependent children would be required to file returns for these one-time transactions, according to sources.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
