BUSINESS/FINANCE
FBR Cracks Down on Social Media Millionaires Flaunting Lavish Lifestyles
The Federal Board of Revenue (FBR) has initiated a major crackdown on 100,000 individuals showcasing their luxurious lifestyles on social media platforms.
Officials say that people posting photos and videos of luxury cars, designer jewellery, massive bungalows, and extravagant weddings are now under strict scrutiny. One striking case involved individuals seen wearing $20,000 suits at weddings — a lifestyle far beyond their declared incomes.
The FBR has deployed a special social media monitoring team that has compiled data on these individuals. Their declared income in last year’s tax returns is being compared with this year’s submissions to identify any irregularities.
Sources revealed that up to 80% of tax returns are being audited as part of this move. Any mismatch between the luxurious displays and declared income may trigger legal action unless the individuals provide valid justifications.
The FBR clarified that people who submit accurate and updated returns will not face penalties. However, failure to disclose assets, income, or extravagant expenses will result in legal consequences.
Officials are urging citizens to file updated returns promptly to avoid complications, warning that social media is no longer a safe space to hide wealth.