The Federal Board of Revenue (FBR) has initiated action against jewelers accused of tax evasion, collecting data of nearly 60,000 jewelers across Pakistan.
According to FBR sources, out of the total 60,000 jewelers identified, only 21,000 are registered with the tax authority. Among them, just 10,524 have filed their tax returns. Most jewelers are reporting lower income than their actual sales to avoid taxes.
In the first phase, FBR has compiled a list of 900 jewelers in Punjab, including those operating in Lahore, Rawalpindi, Faisalabad, and Multan. These jewelers have been issued notices, requiring them to explain why their tax payments do not match sales running into millions of rupees.
Officials revealed that several jewelers’ tax returns do not align with the size of their shops, purchase and sale records, and lifestyle standards. In Islamabad, FBR has identified 50 jewelers in one market concealing their actual income.
The Federal Board of Revenue clarified that notices will not be issued without reason, but all jewelers involved in tax evasion will be brought under the tax net. Thousands of jewelers still remain outside the tax system, and FBR will carry out phased operations to ensure compliance. Strict legal measures will be taken against those hiding income.
