FBR seeks banks’ support to boost filing of Income Tax returns

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From Our Correspondent

ISLAMABAD: A team of Federal Board of Revenue (FBR) Facilitation and Taxpayers Education (FATE) has started contacting country’s banks and financial institutions as part of an outreach programme to boost the filing of Income Tax returns. FBR had decided to work closely with the large multinationals and corporations of the country to build a friendly interface with them and provide them with all assistance and facilitation in all areas of taxation. The large organisations have done exceedingly well in reporting the salaries paid and the taxes deducted at source from their employees, and an equal degree of attention is required from them to motivate their employees with taxable income to file their tax returns. The bank employees could reap after becoming filers, by paying significantly lower rate of taxes on multiple business and bank transactions in e-filing for the officers and staff of Banks.

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