Islamabad: The government has decided to establish contacts with Russia and Turkey to obtain information about Pakistanis who hold assets in these countries – a news source reported.
A decision to this effect was taken during a special meeting, presided over by Prime Minister Imran Khan. Senior officials of the Federal Board of Revenue (FBR) were also present at the occasion.
It is pertinent to mention that Pakistan and Turkey are signatories of a tax treaty. The two countries signed the Income Tax Agreement and Final Protocol on November 14, 1985.
However, Pakistan does not share a taxation agreement with Russia. Although, in 1998, Islamabad had given its nod to negotiate a taxation treaty with Moscow.
Meanwhile, the FBR has completed its preliminary investigation into the alleged cases of tax evasion and fraud in the real estate sectors of Islamabad, Lahore, and Karachi.
According to FBR’s report, over 2,000 owners of commercial buildings in these cities have evaded taxes worth PKR 2 billion.
