Lahore: The Federal Board of Revenue (FBR) has served notices to 1,500 citizens who have not included the details of properties purchased during 2017-18 in their wealth statements, according to a news source. To this effect, the recipients have been instructed to submit a response within 15 days.
As per the details, out of the total 78,000 property units purchased in 2017-18, 1,976 were purchased by 1,500 citizens in Lahore. Despite paying their due property taxes, these buyers made no mention of being the owners of these properties in their wealth statements. According to reports, these properties are worth billions of rupees.
The federal institution has declared 110 individuals out of the 1,500 citizens to be non-filers. Sources also claim that out of these 1,500 persons over 1,000 property owners occupy prestigious positions in companies registered with Regional Tax Office.
To sort the matter, the FBR has sent
notices to the property owners and has sought their replies in 15 days.
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.
