Islamabad: During the first 11 months of the fiscal year 2016-17, an amount of PKR 71 billion was turned white through the real estate investments, a news source quoted facts shared by the Federal Board of Revenue.
According to stats revealed by the FBR, the board earned a revenue of PKR 14.92 billion under the head of Withholding Tax during these 11 months, while the number of property transactions recorded during the period was 212,827. During the same time period in the last corresponding year, the recorded number of property transactions was 193,120 and the revenue collected under the Withholding Tax was PKR 7.42 billion.
