Lahore: The Federal Board of Revenue (FBR) has launched a campaign to register 137,000 individuals in the city who own a property that is between 1 to 700 kanals in size — with the initiative aimed at bringing the city’s wealthiest citizens into the tax net, a news source reported.
As per the information available, FBR Special Initiative Director General Amna Hassan compiled the details regarding property owners who have never been registered with the FBR. This data has been extracted through records maintained by the Punjab Land Record Authority and the Board of Revenue.
In order for the FBR to complete their task in a timely manner, the names, addresses and other related details of the aforementioned accused individuals have been shared with the tax authority. The FBR is further expected to require additional information from the alleged defaulters; including details about their tax returns, any assets they own, and their sources of income.
During the second of week of February, the FBR had served notices to 1,500 of the city’s citizens for not sharing details regarding the properties they purchased during the fiscal year 2017-18 in their wealth statements.
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.
