WEBDESK: The Federal Board of Revenue (FBR) has started monitoring wealthy individuals who flaunt their luxury lifestyles on social media. Authorities have gathered data on around 100,000 people who showcase their riches through grand houses, luxury cars, expensive jewellery, and extravagant weddings.
FBR officials have made it clear that those displaying lavish spending but failing to declare it in their income tax returns will not be spared. Even those who spend heavily on weddings have come under observation.
Sources within the FBR revealed that some individuals were seen wearing suits worth as much as $20,000 at wedding functions. Officials warned that people whose tax declarations do not match their visible lifestyle will be held accountable. To ensure transparency, the FBR will compare last year’s income tax returns with those submitted this year.
According to the tax authority, 80 per cent of all returns will be audited. Those flaunting their wealth will be required to explain their sources of income through tax filings. Anyone failing to show a rise in annual income despite evident luxury spending may face action.
Officials further advised individuals to update their tax returns if they want to avoid legal trouble. Those who declare accurate and updated information in their income statements will not face immediate consequences.
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