PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Pakistani Regulators Use Credit Card Data to Find Tax Fraud

By Brian Riley
June 18, 2019
in Analysts Coverage, Credit, Fraud & Security, Fraud Risk and Analytics, Personal Data
0
3
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Pakistani Regulators Use Credit Card Data to Find Tax Fraud

Pakistani Regulators Use Credit Card Data to Find Tax Fraud

All the buzz about financial inclusion is interesting. Yes, we are uplifting the masses and improving lives. But, as we include people, we also add documentation on income. Income can be taxed.

Here is an interesting read from Pakistan Today.

  • The Federal Board of Revenue (FBR) has received details of all bank accounts from which withholding tax is being deducted, and scrutiny is being conducted to bring the non-filers into the tax base.
  • The data bank developed with the help of NADRA possessed all kinds of data about potential non-filers, but it lacked banks data. The FBR is now confident that the data of withholding deductions would help the tax machinery in launching a pilot project from July 1, 2019, for broadening of the tax base.

And…

  • a list of payments made by any person against bills raised in respect of a credit card issued to that person, aggregating to rupees one hundred thousand or more during the preceding calendar
  • The FBR had sought the cooperation from the central bank after it found out that hardly 10% of over 50 million bank account holders were income tax filers. “The existing legal framework provides constraints on procuring and sharing of privilege/confidential information relating to the affairs of the banks’ customers,” the SBP wrote to the FBR.

100,000 Pakistan rupee equal about $600.

Only 3% of the country have credit cards, and 8% have debit cards.  With almost 200 million people in the country and a per capita income of only $1,500, there is a long way to go.

Hopefully, the top income producers, those with the cards, won’t curtail inclusion as the tax man cometh.

Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group

3
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Credit CardFraud PreventionPakistan

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    innovation

    Companies No Longer Dabble in Innovation, They Prioritize It

    May 22, 2026
    klarna debit card

    Why Too Many Banks Are Losing Out on Merchant Services

    May 21, 2026
    embedded payments

    Embedded Payments Are Becoming Core to Vertical SaaS

    May 20, 2026
    palm scan

    Identity Fraud and the Erosion of Trust in the Age of AI

    May 19, 2026
    metamask debit card

    After Kraken’s “Skinny” Fed Account, What’s Next for Crypto?

    May 18, 2026
    agentic payment

    PhotonPay Completes its First Live Agentic Payment Together with Mastercard

    May 15, 2026
    banking

    Inside Banking’s $10 Billion Inflection Point

    May 14, 2026
    fraud disputes

    The Hidden Cost of Fraud Disputes Is Hitting Banks Hard

    May 13, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2026 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result