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FBR issues notices to 2,785 Pakistanis found involved in money laundering in guise of gifts

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Islamabad: (Parliament Times) In a major development Federal Board of Revenue (FBR) has issued notices to 2,785 Pakistanis who were allegedly found involved in money of Rs 102 billion under head of gifts during previous financial year.
According to media reports, all these persons have been directed to inform FBR about their source of income.
It is vital to mention here that under present rules and regulations gifts are exempted from tax and many such persons who are financially stable use this exemption as safe method for transferring their assets, money and other valuables without paying the tax.
According to newly appointed Director General of Intelligence and Investigation Shad Mehmood the notices have been issued to all such people who have received heavy gifts.

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