FBR Empowered to Track Bank Transactions of Citizens

In another vital move to stop tax evasion, the Pakistani government has empowered the Federal Board of Revenue (FBR) to check banking transactions made on the national identity card of any Pakistani citizen.

As part of the plan, a data bank of the State Bank of Pakistan and other banks will be set up and details of transactions will be provided to the FBR.

In the next step, the FBR will impose tax on transactions exceeding the income declared in the light of the data.

FBR officials say this move will result in increase in tax collection