A. PAFO Letter to FM

Further to KQU 3094 of 19.9.26, being an important matter, we would inform you about PAFO letter to Federal Minister to direct FBR to release Parliamentarian Tax & Wealth Directories for Tax Years 2020 to 2025 (Attachment 3758.1) as circulated on several WhatsApp Groups and confirmed by Mr. Muhammad Iqbal Surmawala, FCA and PAFO President. 

2. Professional Accountant Forum (PAFO) is a guilt of financial & economic experts from all corners of the Members of professional bodies like Institute of Chartered Accountants of Pakistan, Institute of Cost & Management Accountants of Pakistan, MBA & Other Business Professionals and other reputed business and accounting institutes locally and globally.

3. Govt / FBR has identified significant tax-compliance gaps within parts of the business, retail and trading sectors, including non-compliant traders and businesses operating in the informal economy. Some of example as report in print media are given below:

PM for strict actions against individuals, businesses involved in informal economy, tax evasion

Mr Sarwar confirmed that most traders falling under the new scheme were currently paying little to no tax

Only 181 Retailer have filed the return out of Govt prediction of 3.5 million

4. As per PAFO Team research, there is a Trust Deficit on the Govt and Parliamentarian Directory has not been published after Tax Year 2019 Parliamentarian Directory for TY 2019 (Published in 2022) Download link https://download1.fbr.gov.pk/Docs/20221317158747ParliamentariansTaxDirectoryforTax Year2019(2).pdf

5. The fact as to not publishing Directory is also evident from the FBR below link https://www.fbr.gov.pk/Categ/income-tax-directory/742

6. Hence, in order to prove the all the Parliamentarians, pay their due income tax, PAFO recommended to direct to FBR to immediately publish Parliamentarian Directory from Tax Years 2020 to 2025.

7. PAFO trusts that as the FBR is constantly indicating that FBR has Artificial Intelligence Capacity and FBR should prove the same from Top level / Parliamentarians. This will create Trust on Parliamentarian and then Businesses & Traders will likely to pay their due tax voluntarily.

B. Reporting in Newspapers

1. Business Recorder PAFO demands release of tax directories of parliamentarians

2. Sabah News Professional Accountants Forum demands publication of Parliamentarian Tax Directory

C.  Multiplications

Although all the Commentaries are to the extent of the Subscribed IDs only, however, your Goodself is allowed to share this QC to Impart Knowledge to the maximum Employees, Relatives, Groups, etc as soon as possible, so that the Directories can be publishsed as soon as possible.

Further Details & Services

Should you require any clarification or explanations in respect of the above or otherwise, or require Income Tax, Federal & Provincial Sales Tax or Withholding Tax Statement, Advisory, Return Filing or Review services, please feel free to email to info.kasbati@professional-excellence.com.

Best regards for Here & Hereafter

Asif S Kasbati (FCA, FCMA & LLB)

Managing Partner 

Kasbati & Co (1400+ Tax, Levies, Companies, Economy, Inflation, HR, Banking, Finance, etc

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