FBR to Launch Action Against Tax Evading Jewelers Across Pakistan

The Federal Board of Revenue (FBR) has compiled data on more than 60,000 jewelers nationwide as part of a crackdown on tax evasion in the sector, official sources told ProPakistani. According to sources, only 21,000 of these jewelers are registered with the FBR, and of those, just 10,524 have filed tax returns. FBR sources told ProPakistani that many jewelers are allegedly underreporting their income to evade taxes. Enforcement action has begun, with an initial list of 900 jewelers prepared in Punjab, covering Lahore, Rawalpindi, Faisalabad, and Multan, for scrutiny. Officials noted discrepancies between some filers’ declared income and their apparent shop size, trading activity, and lifestyle indicators. Thousands of jewelers are reportedly still outside the tax net. Notices are being issued to under-declarants to seek explanations and ensure compliance, the sources added. Commenting on the drive, FBR officials said the objective is to bring all sectors into the tax net. “We will not issue notices without cause. If everyone pays their fair share honestly, the country will function properly,” an official said. Gold prices have recently risen again after a brief dip, adding fresh attention to trading volumes and margins in the jewelry market.