The Federal Board of Revenue (FBR) has begun issuing tax notices to jewellers in several major cities of Pakistan. According to reports, jewellers in Rawalpindi, Islamabad, Faisalabad, and Multan have been served notices demanding explanations on their tax affairs. The move comes as part of a broader crackdown on tax evasion in the gold and jewellery sector.
FBR officials confirmed that the jewellers were asked to submit records and respond to tax queries. Most of the notices have been sent to unregistered or under-reporting jewellers. Officials say the goal is to bring all eligible businesses into the tax net and ensure fair collection from the high-profit jewellery market.
Read more: FBR cracks down on tax-evading jewellers
Meanwhile, the FBR also raided a major real estate company in Islamabad as part of its ongoing efforts to target tax evasion across industries. The agency has reportedly intensified action against both individuals and businesses not fully complying with tax laws.
A recent report revealed that FBR collected data of 60,000 jewellers nationwide. However, only 21,000 are officially registered with the FBR, and just 10,524 have filed tax returns. Authorities believe many jewellers are hiding income and underreporting sales to avoid taxes. In response, a list of 900 jewellers in Punjab has been prepared for action in the first phase.
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FBR sources say the crackdown will continue, and more businesses will face notices or audits in the coming weeks. The tax body aims to broaden the tax base and reduce revenue loss. Officials have also warned that non-compliance could lead to penalties or legal action.