London: Pakistan and Britain have signed agreements to mutually share details of properties held by citizens who evade taxes, a news source reported. Special Assistant to Prime Minister on Accountability Mirza Shahzad Akbar exchanged information on such properties with British authorities.
Data has been obtained of people who have properties in Britain but have no known source of income in Pakistan. It is suspected that these properties have been bought by funnelling money out of the country through illegal means. The agreement is expected to help widen tax net and increase the revenue.
People who receive income from Pakistan but don’t show it at any place, either Britain or Pakistan, will also be brought into the tax net.
