Islamabad: The Federal Board of Revenue (FBR) on Friday issued draft amendments for the Income Tax Rules 2002 to obtain information of bank account holders of resident or non-resident status, a news source reported.
FBR plans to seek information from banks of account holders having deposited PKR 10 million or more during a month, made a monthly credit card payment of PKR 200,000 or more, or earned profit on debt. The board also wants to obtain particulars of account holders who have withdrawn PKR 1 million or more within a month’s time.
Furthermore, FBR has asked banks to provide the following information on account holders falling within the said categories:
Title of account
Account opening date
Account number (IBAN)
Profession/business/occupation of the account holder
CNIC
NICOP
Passport number
NTN, name
Resident/non-resident status
Address
Telephone number
Amount deposited in a month or amount of cash withdrawal during a month
The taxation agency also requires banks to provide deposit, credit card payment, cash withdrawal, and profit on debt statements of the account holders, along with any other details the board may need.
