Islamabad: One of the recently sanctioned amendments in the NAB Ordinance 2019 states that the valuation of properties owned by a public official under investigation for ‘assets disproportionate to his/her known sources of income’ will be performed under FBR or DC valuation rates – according to a news source.
The law will supersede any other provision currently in effect on this front and no other evidence will be admitted to prove that the value of property is different from its FBR or DC value (whichever is higher).
FBR and DC valuation rates are the rates announced by Federal Board of Revenue (FBR) and Deputy Commissioner respectively. FBR rates have been announced for a number of major cities in the country, while DC rates apply to the other area, although there are overlapping areas as well.
According to relevant officials, the move is expected to help fix and standardise the rates of property in all investigations and cases falling under the law.
