The Federal Board of Revenue (FBR) has started a major crackdown on jewellers who are not registered or are underreporting their taxes.
According to officials, Pakistan has nearly 57,000 jewellers, but only 20,000 are officially registered with FBR. Among them, just 10,000 have filed their tax returns, raising concerns about widespread tax evasion in the sector.
As part of the drive, notices have been issued in key cities, including Islamabad, Rawalpindi, Faisalabad, and Multan. Officials noted that in one Islamabad market alone, at least 50 jewellers were identified as operating outside the tax net.
An FBR spokesperson said traders avoiding taxes will face strict action. He added that the crackdown will continue across major markets to ensure compliance.
The campaign is not limited to jewellers. FBR also launched action against wealthy individuals showcasing luxury lifestyles on social media. Officials stated that data of around 100,000 people has been collected. These individuals were seen displaying expensive jewellery, luxury homes, high-end vehicles, and lavish weddings online.
Authorities warned that such displays must match income declared in tax returns. Some individuals were spotted wearing suits worth $20,000 at weddings. These cases will be closely reviewed during audits.
Sources revealed that nearly 80% of tax returns will be audited this year to identify hidden wealth or undeclared income. Those failing to justify their assets will face legal consequences.
FBR has reminded taxpayers that September 30 is the deadline for filing returns. In a public advisory, the department urged honesty in declarations. “Submit your income tax correctly and honestly,” the statement read.
The crackdown reflects FBR’s growing efforts to expand the tax base and bring transparency to Pakistan’s financial system.
In other related news also read FBR Announces Extension for Sales Tax Integration Deadline