He revealed that 30 people who showcased wealth online but declared low income in their tax returns have already been issued notices, and daily progress reports on operations against tax evasion are being compiled.
Speaking to journalists in Islamabad, Langrial said that significant improvements have been seen in revenue collection, noting a rise of Rs40 billion in sales tax collected from the sugar industry during the past year.
He said that the previous distinction between the prices of taxed and untaxed sugar has been eliminated, and he challenged anyone to identify those still holding untaxed sugar stocks, warning that the strictest possible action would be taken against them.
The FBR chairman announced the appointment of a chief commissioner for enforcement who will lead all actions against tax evaders across the country.
He said that measures to block the movement of smuggled goods have been intensified, adding that smugglers have caused losses to customs and that two tax officials were martyred during operations. Despite these challenges, he affirmed that the crackdown on smuggling will continue.
FBR issues new valuations for Islamabad plots across 68 locations
Meanwhile, the FBR has issued new valuations for residential and commercial plots across 68 locations in Islamabad, a move expected to enhance transparency in the capital’s property market. The new rates will determine the fair market value of immovable properties and will impact both capital gains and withholding taxes.
According to the FBR, the updated valuations are likely to increase tax revenue from property transactions in Islamabad.
Under the new schedule, plots in sector E-7 have been valued at Rs600,000 per square yard, while F-7 and F-6 are priced at Rs500,000 per square yard. F-8 plots are now valued at Rs450,000, F-10, F-11, and G-6 at Rs350,000, and D-12 and I-8 at Rs250,000 per square yard.
E-11, G-8, and G-9 have been assigned a value of Rs180,000 per square yard, G-10 at Rs160,000, G-7 at Rs140,000, and C-14 at Rs100,000.
For larger plots measured in kanals, maximum valuations have been set at Rs11.2 million in Chak Shahzad, Rs14 million in Orchard Scheme, and Rs10.5 million in Gulberg Green per kanal. In I-9 and I-10, the per-kanal valuation has been raised to Rs18 million.
The FBR stated that these new valuations will standardise property pricing, improve transparency in transactions, and potentially boost government revenue from the real estate sector.