Federal Board of Revenue (FBR) has collected data of 96,000 foreign account holders, Minister of State for Finance, Revenue and Economic Affairs Hammad Azhar informed the National Assembly on Friday (Nov 9).
During question answer session, he said that “we have collected data of 96,000 account holders from abroad and the government is determined to take action on this”. He further informed that “so far 294 individuals had been issued notices under relevant section of Income Tax Ordinance, 2001”. “About 150 people could not be traced due to incomplete particulars, while 12 people were no longer alive”, the minister added. ‘The government is taking measures to enhance the capacity of FBR to collect revenue and make it an agency which provides fair and justice treatment to the taxpayers’, said Mr Azhar.
The minister also questioned about reasons for not taking any acton against offshore assets holder, who were named in Panama papers. The federal cabinet headed by Prime Minister Imran Khan, on Thursday decided to separate revenue collection administration from tax policy formation to promote equity and transparency in the FBR.
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17 November, 2019