The Federal Board of Revenue (FBR) has launched a crackdown on wealthy individuals showcasing their extravagant lifestyles on social media.
Authorities have collected data on 100,000 people flaunting luxury homes, flashy cars, expensive jewellery, and lavish weddings, warning that those who fail to update their tax returns will face legal action.
Wealthy social media users under scrutiny
According to FBR officials, individuals who display their wealth through videos and photos online are under close observation. Big bungalows, luxury vehicles, high-end jewellery, and extravagant spending at weddings are being carefully tracked.
Officials revealed that some individuals have been seen wearing suits worth $20,000 at weddings, a sign of the extreme luxury being flaunted publicly. Such displays, authorities say, must align with the income declared in tax filings.
Data collection and audits
The FBR’s dedicated social media team has compiled data on around 100,000 people suspected of leading lifestyles far beyond what they report in their income tax returns. Authorities will compare last year’s returns with those submitted this year to identify discrepancies.
Sources confirmed that nearly 80% of all tax returns will be audited as part of this exercise. Anyone found hiding assets, wealth, or income will be asked to provide an explanation of their sources of income. “Action will be taken against those who do not disclose the increase in annual income in their returns, FBR sources said.
Weddings and lavish spending in focus
The crackdown will also extend to extravagant weddings, where wealthy individuals are seen flaunting expensive clothing, jewellery, and grand displays of wealth. FBR officials said such expenses must be reflected in updated income tax filings, otherwise legal action will follow.
Warning, way forward
FBR has made it clear that those who provide accurate and updated information in their income tax returns will not be penalized for now. However, individuals who fail to disclose their lavish spending or luxury assets risk facing strict legal consequences.
Officials urged citizens to update their tax returns promptly to avoid complications. “Nothing will be said to those who submit correct and updated income details,” the FBR clarified.
