Wealthiest 5pc not paying taxes: FBR chief

Declaring amnesty schemes hinder the entire taxation system, Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has revealed that not even the wealthiest top five per cent of the country are paying their taxes. Addressing the members of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Mr Langrial expressed optimism that the interest rate may be further reduced by 150-200 basis points soon. He opined that the country has no other breathing windows in sight and that promoting tax culture is the only viable solution, according to a press release of the FPCCI. Mr Langrial said that not even the wealthiest top 5pc of the population is filing taxes and endorsed FPCCI’s demand for targeting tax evaders instead of those already paying taxes for decades.