Karachi: The Federal Board of Revenue (FBR) initiated legal action against businessmen who failed didn’t disclosed their properties in UK under the tax amnesty scheme, stated a news report. The FBR notified people who owned properties in the UK after the scheme ended on 31st July.
Almost 80% of the people responded to these notices and whitened their money under the amnesty scheme. During the amnesty scheme duration, the FBR was able to gather PKR 122 billion through 70,000 declarations. The FBR commenced legal action against non-compliant individuals by taking all measures necessary under Income Tax ordinance (ITO) 2001.
