The Federal Board of Revenue (FBR) has compiled data on over 57,000 jewellers nationwide in a bid to curb widespread tax evasion, sources confirmed on Monday.
According to officials, only 20,000 jewellers are currently registered with the tax authority, and just 10,000 of them have filed returns. Many jewellers are accused of underreporting their income despite making sales worth millions.
In the first phase, the FBR has prepared a list of 800 jewellers from Punjab, covering Lahore, Rawalpindi, Faisalabad, and Multan. Notices have already been issued to individuals showing major discrepancies between their declared returns and actual business activity, lifestyle, and shop operations.
Officials noted that several jewellers were paying minimal taxes while running high-value businesses. Strict action is expected against those found guilty of evasion.
Thousands of jewellers remain outside the tax net, but the FBR said efforts are ongoing to bring all sectors into the system. The authority also clarified that no businessman or industrialist will receive a notice without solid grounds.
