Islamabad: Total tax evasion of 5 thousand 800 rupees has been revealed in various sectors of the country, FBR has introduced a comprehensive strategy to prevent tax evasion.
In this regard, the Federal Board of Revenue (FBR) officials say that about 2,900 billion rupees are being stolen annually in sales tax alone, similarly, tax evasion of 996 billion rupees in the petroleum sector due to smuggling, retail A revenue gap of 888 billion has been recorded in the sector and 562 billion in the transport sector.
Officials further say that 498 billion rupees less tax collection has been revealed from the private electricity generating companies and tax evasion of 342 billion rupees in the export sector while one hundred and forty eight billion less tax is being received annually in the real estate sector. There is an estimated tax gap of more than 1600 billion in other different sectors
On the other hand, the amount of federal and provincial expenditure is equal to 19% of GDP, but tax collection is 11.4%.
To tackle tax evasion, the FBR has decided to formulate a comprehensive strategy under which the implementation of the revenue generation plan will be accelerated and automation will be promoted.
