ISLAMABAD: Federal Board of Revenue (FBR) has started effective efforts to include the public and government employees in the tax system holding undeclared properties and assets, it is learnt here.
According to official sources, FBR officials have started visits to governmental and semi governmental institutions to give chance to employees to whiten the assets and property made by corruption and illegally under ongoing amnesty scheme.
Sources added that the board has received information from different sources that a huge number of public sector employees have billion of worth assets and they don’t submit tax returns and are not in the active taxpayer list. The board has the aim to induct these public sector employees in the country’s tax system.
Meanwhile, sources added that FBR Commissioner Inland Revenue Ahmed Shuja Khan has visited Zarai Taraqiati Bank Ltd Islamabad and informed the bank administration and officials regarding the government-announced Tax Amnesty Scheme and briefed that the basic aim behind this scheme is to allow those holding undeclared properties and assets both in Pakistan and abroad to disclose them by paying nominal tax and become part of the tax system.
He further informed them that Foreign Assets (Declaration and Repatriation) Ordinance, 2018 is for undisclosed foreign assets and Voluntary Declaration of Domestic Assets Ordinance, 2018 is for undisclosed income and domestic assets, sources added.
On the other hand, the Zarai Taraqiati Bank Ltd Islamabad official thanked FBR and said that they would inform their consumers regarding the scheme.
