FBR Issues Notices to Jewelers, Raids Real Estate Firm in Tax Evasion Drive

The Federal Board of Revenue (FBR) has issued tax notices to jewelers who have not been paying taxes, as part of a widening crackdown on evasion. According to sources, notices have been served to jewelers in Rawalpindi, Islamabad, Faisalabad, and Multan, seeking explanations regarding their tax affairs. In a related move, the FBR also raided a major real estate company in Islamabad. The action comes a day after reports revealed that the FBR had collected data on 60,000 jewelers across the country. Of these, only 21,000 are registered with the authority, and just 10,524 have filed tax returns. Sources said that most jewelers were underreporting their income to evade taxes. The FBR has launched enforcement measures, beginning with a list of 900 jewelers in Punjab, including those based in Lahore, Rawalpindi, Faisalabad, and Multan. Officials confirmed that notices are being issued in the first phase, targeting cases where declared income does not match business operations or lifestyle.