Fines for teachers who fail to submit their tax return in Punjab: FBR
LAHORE, March 27 : The Federal Board of Revenue (FBR) has taken a strict stance against non-compliant teachers in Punjab, announcing fines for those who fail to submit their tax returns.
The FBR has compiled lists of teachers who have defaulted on submitting their tax returns for the year 2023, with penalties of up to 40 thousand rupees imposed on defaulters.
Notices have been issued to the defaulting teachers via education authorities, instructing school heads and educators to promptly file their tax returns. The FBR's action underscores a firm stance against tax evasion among educators, with thousands yet to fulfill their tax obligations for the previous fiscal year.
In addition to fines, non-compliant teachers risk salary withholdings if they fail to adhere to the directives issued by the tax authorities.
This development comes on the heels of the FBR's recent announcement regarding the initiation of a business-friendly registration scheme slated to commence on April 1 in six major cities, including Islamabad, Karachi, Lahore, Quetta, and Peshawar. Under this scheme, retailers will begin registering, with tax collection set to commence from July 1, 2024.
Notably, the FBR's plan encompasses the inclusion of online marketplace platforms in the tax net, with special provisions outlined for small traders and shopkeepers. Registration for this scheme is facilitated through the Tax Easy app, with a minimum monthly advance tax applicable to all income earners. Furthermore, individuals paying their advance tax collectively or clearing their outstanding balances stand to benefit from a 25% reduction in their total advance tax liability.
