Lahore: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has said that the Asset Declaration Ordinance 2019 is generating encouraging response from the public, according to a news source. He also revealed that the FBR has access to benami bank accounts and properties.
Shedding light on the mechanism of the board’s operations, the FBR chairman said that laws have been formed to take action against the tax officers found guilty of being unfair with the taxpayers. He affirmed that the government will not collect more than their due taxes from the taxpayers. The chairman believes that if the board can manage to bring tax evaders into the tax net, FBR can meet its annual tax target of PKR 5,555 billion.
Chairman Zaidi also mentioned that the government is bringing property valuation rates at par with market value to discourage people from using the property sector to park their black money. Talking about the restriction on non-filers from buyer property more expensive than PKR 5 million, he said that the ban has been lifted but the government has made it impossible for people to not file their income tax returns.
Adding further to this, the FBR chairman said that the “filer” and “non-filer” category has been removed from the income tax form. The taxpayers can no longer remain non-filers, clarified Zaidi.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
