FBR Targets Tax Evasion Among Jewellers
ISLAMABAD – The Federal Board of Revenue (FBR) has launched a crackdown on jewellers across the country amid reports of widespread tax evasion.
According to FBR sources, around 20,000 jewellers are registered with the authority, but only half of them — nearly 10,000 — have filed their tax returns. Officials say many jewellers are underreporting their actual income despite earning millions in sales.
In the first phase of the operation, the FBR has drawn up a list of 800 jewellers in Punjab, including businesses in Lahore, Rawalpindi, Faisalabad, and Multan. Authorities found glaring discrepancies between the declared tax returns and the jewellers’ real business activity, lifestyle, and shop turnover.
“These jewellers are paying negligible taxes despite generating huge sales,” officials noted. Notices have been issued, requiring them to explain the mismatches.
FBR sources said thousands of jewellers are still operating outside the tax net, and efforts are underway to bring the entire sector into compliance. They stressed, however, that no businessman or industrialist will be served a notice without valid grounds.
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