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The Federal Board of Revenue (FBR) has flagged more than 14,000 jewelers for failing to file income tax returns, while thousands of others either declared zero income or misreported their earnings. The disclosure underscores the government’s growing concerns over tax compliance in Pakistan’s jewelry market.
FBR Chairman Rashid Mahmood Langrial revealed that out of 35,000 registered jewelers, over 14,000 have not submitted their income tax returns. He further disclosed that more than 6,000 jewelers filed returns showing zero income, while around 15,000 misreported their earnings.
The announcement was made during a meeting with a 15-member delegation from the All Pakistan Gems and Jewelers Association (APGJSA), led by President Qasim Shikarpuri. The FBR chairman confirmed that enforcement actions against non-compliant jewelers have been suspended until September 30, the final date for tax filing.
Langrial stressed that strict action will be taken against bullion dealers who fail to comply with filing requirements or submit false information. To address sector-specific concerns, the FBR has also set up a four-member committee to engage with industry representatives.
APGJSA President Qasim Shikarpuri explained that jewelers are being categorized into four groups. Category A shops will display green plates, Category B will display yellow plates, while decisions on Categories C and D will be finalized later. He urged members of the association to file accurate tax returns before the deadline.
