Tax evaders to be identified through NADRA while burden on existing tax payers to be subdued: Miftah

Tax evaders to be identified through NADRA while burden on existing tax payers to be subdued: Miftah

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ISLAMABAD: Advisor to Prime Minister of Finance Miftah Ismail on Sunday said the data of tax evaders identified through National Database and Registration Authority will be provided to Federal Board of Revenue within the next 30 days.

“The decision has been taken to broaden the tax net and lessen the burden on existing tax payers,” he said while addressing a news channel.

Moreover, he responded to a query saying that 1.2 million people were already paying taxes and that this number was likely to increase in the near future.

Earlier on Saturday, Miftah Ismail chaired a meeting to review the proposal regarding launching of Overseas Pakistanis Savings Certificate (OPSC) by National Savings (NS) to non-resident Pakistanis.

Director General NS Zafar Masud informed the adviser about the progress made on the OPSCs. He briefed saying that necessary regulatory and legal due diligence have already been completed by the NS Consultant Consortium (EY Ford Rhodes, Haidermota BNR & Co and Al Tamimi & Co).

He also stirred talks about the salient feature of the OPSCs, particularly eligibility, cost and investment limits for the proposed certificate.

Tentative timeline for launching the proposed product was also talked upon in detail keeping in mind the ideal economic scenario complimenting the product launch.

The adviser finance acknowledged the progress made by the National Savings in this regard and directed to make all possible efforts to launch OPSCs by May-2018. Senior officials of the Ministry of Finance and National Savings along with consultant (EY Rords Rhodes) attended the meeting.

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