Lahore, The Federal Board of Revenue (FBR) is set to clamp down on tax evasion among traders and industrialists in Lahore, who are reported to have discrepancies between their declared incomes and their actual wealth, including substantial investments in properties and businesses.

According to Zameen.Com, the FBR has completed preparations to issue final notices to individuals whose lavish expenditures do not match the taxes they have reported. Some of these traders, despite amassing wealth amounting to billions, have reported only minimal tax payments.

The agency has prepared lists of notable tax evaders operating in prominent markets across Lahore, including Akbari Market, Shah Alam Market, Azam Cloth Market, Anarkali, Liberty Market Road, Gulberg, Ferozepur Road, and Model Town. The initiative is part of a broader crackdown that extends beyond Lahore to include other major cities in Punjab such as Gujranwala, Sialkot, Faisalabad, Multan, and Sahiwal.

The FBR, leveraging a decade's worth of accumulated data on traders, is intensifying efforts to address tax evasion. Officials emphasize the government's commitment to fair tax collection and the use of legal avenues, including court actions, to ensure compliance and accountability. Those found in violation of tax laws will be rigorously pursued and removed from positions of influence as part of the FBR's firm stance against malpractice.