ISLAMABAD: The Federal Board of Revenue (FBR) has said that 2 per cent of the buyers have ever disclosed any foreign properties in their annual returns.
It was disclosed after a media report revealed that about 7,000 Pakistanis have bought properties worth Rs1.1 trillion in Dubai during the last 15 years.
Talking to media, Miftah Ismail, who is the Adviser to the Prime Minister of Pakistan for finance, revenue, and economic affairs with the status of a federal minister, said that a person bringing dollars to Pakistan neither paid any tax nor could be questioned by the FBR. People first send money abroad Hawala and later whiten that through amnesty scheme, he said, adding that but the government wants to bring a new scheme through the practice.
Miftah said the government wanted to introduce an amnesty scheme during the current tenure. Actually, it would be wrong to describe it an amnesty scheme as they were going to end the amnesty scheme, he said.
He said their objective was to bring a scheme to encourage the Pakistanis to invest in the country and give a chance for regularising the money to those having assets in or outside the country.
