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Amnesty Scheme 2018 New Legislation Worldwide to result in Confiscation of foreign - LRE-Azan - 06-27-2018 07:29 PM
FBR and another government department are currently working on a list of Pakistani individuals having properties in Dubai and many of these individuals are being questioned. FBR does not require further evidence as the details sent by a foreign government department is an admissible evidence in the court of law”, he added.
Tariq Pasha further commented that changes have also been introduced in the Withholding Tax Regime as initially, the banks were not sharing information with FBR but now, a threshold about deduction of Withholding Tax has been agreed upon hence, the information is being shared with the FBR in case an account holder exceeds the withholding tax limit.
“Furthermore, if remittances of more than $100,000 per annum arrive in any bank account in Pakistan, the recipient will be asked about the source of such remittances”, he added.
Reference Link:
https://profit.pakistantoday.com.pk/2018/06/23/amnesty-scheme-2018-new-legislation-worldwide-to-result-in-confiscation-of-foreign-funds-warns-fbr-chief/