Notices sent to 165,000 people, entities over non submission of assets' details

FAISALABAD: Sources inside Federal Board of Revenue (FBR), Faislabad division, said at least 165,000 people and entities have been sent notices over not disclosing their assets’ details.

The regional tax office has given a duration of one month to all people and organizations, sources said adding that the office has sought asset details by September 19.

The FBR, along with the support of four institutions, probed and traced these 165,00 people and entities who have not declared their asset details, sources said.

The notice of the revenue board was sent to the people who own houses bigger than two kanals and 1000 CC cars. The account holders with transactions of millions of rupees also received the FBR notice among others.

It is worth mentioning that, last month the Federal Board of Revenue collected Rs70bn revenue through its ‘Asset Declaration Scheme’.

A total of 110,000 people took benefit from the tax amnesty scheme and over 25,000 people were in pipeline, the FBR spokesperson said.

Last year, 84,000 people had availed the scheme and over Rs 124bn revenue had been collected by the board.