FBR Receives Details of Dubai Properties Owned by Pakistanis
JUL 18, 2018: The Federal Board of Revenue (FBR) has declared that it has received detail information about secret properties and income of Pakistanis in Dubai.
The report comes as FBR said this week it has obtained information regarding immovable properties owned by Pakistanis in the United Kingdom (UK).
The information has been obtained with the assistance of Organization for Economic Cooperation and Development (OECD) and UK tax authorities, said FBR in a brief statement, adding that the information was being analyzed by the board for taking further action.
As per media reports, a senior FBR official said facts and figures that are received from the Dubai Tax Authority also included information about the income of Pakistanis that is generated in the shape of rent through properties.
On the other hand, the FBR has geared up an awareness campaign regarding the tax amnesty scheme which has now been extended till July 31.
In this regard, special instructions have been issued to the Karachi tax officials that they have to play a dynamic role to inform the businessmen about the benefits of Tax Amnesty Scheme so that they could show the hidden assets and get amnesty on them in future.
Similarly, instructions have been issued to tax officials of Lahore, Faisalabad, Multan, Gujranwala, and Sialkot also so that they can attract public towards Tax Amnesty Scheme.
FBR Tax Payer Audit Member Nosheen Javed Amjad urged the people to get the benefits from the present tax scheme because “the minimum tax rate, the legal protection provided by it against fines and legal proceedings makes it a perfect scheme.”
She added, “It’s an ideal offer for the public in the country and foreign countries to declare their income and assets.”
Pakistanis have approximately $150 billion assets abroad. Out of this, nearly $100 billion dollars are invested in real estate sector.
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