Islamabad, July 31, 2023 – The Federal Board of Revenue (FBR) has recently released an updated tax law aimed at addressing the issue of black money and unexplained funds in Pakistan.
KARACHI: The government has allowed whitening of money investment in immovable properties at nominal income tax rate of 1.5 percent on declaration made by June 30, 2019. The federal cabinet approved tax amnesty scheme 2019 for undeclared domestic and foreign assets, which was also promulgated through presidential ordinance. The government allowed undeclared immovable properties at […]
ISLAMABAD: The Amnesty Scheme 2018 has shown the 91 percent tax dodgers, who availed the scheme for declaring undisclosed foreign assets were registered with tax department. According to presentation of the finance ministry on the previous tax amnesty scheme, the analysis showed around 6,195 persons availed the scheme to declare foreign assets. It revealed that […]
The Federal Board of Revenue (FBR) in Pakistan is now scrutinizing the source of foreign remittances when the inward transfer exceeds Rs10 million to a recipient in a year.