Over Rs 150bn black money whitened: FBR

[LahoreEstate]

ISLAMABAD: Black money worth around Rs 150 billion has been whitened by taxpayers from across the country so far, under the government's Investment Tax Scheme (ITS), a Federal Board of Revenue (FBR) official said on Monday. "FBR has collected Rs 3.037 billion tax revenue, which is two percent of the total amount whitened so far," Member Facilitation and Taxpayers Education and FBR spokesman Mehmood Alam told APP. He said that as many as 21,734 people have regulated their businesses and black money by paying tax at the rate of 2 percent under the scheme. Alam said that out of those, 2 cases were received by Large Taxpayers Unit (LTU) Karachi, three by LTU Lahore, and one by LTU Islamabad. Other cases received under the ITS included 5,393 from Regional Taxpayers Officer (RTO) Karachi, 5,666 from RTO Lahore, 1,850 from RTO Rawalpindi, 694 from RTO Islamabad, 1,399 from RTO Multan, 1,908 from RTO Faisalabad, 708 cases from RTO Peshawar, 522 from RTO Sialkot, 1,037 from RTO Hyderabad, 61 from RTO Quetta, 1,857 from RTO Gujranwala, 495 from RTO Sukkur, while 138 cases were received from RTO Abbottabad. Alam said FBR collected Rs 25 million from LTU Karachi, 4 million from LTU Lahore and Rs 1.3 million from LTU Islamabad. The bureau collected Rs 823 million from RTO Karachi, Rs 948 million from RTO Lahore, Rs 215 million from RTO Rawalpindi and Rs 251 million from RTO Islamabad, he said. The spokesman said Rs 126 million were received from RTO Multan, Rs 184 million from RTO Faisalabad, Rs 127 million from RTO Peshawar, Rs 47 million from RTO Sialkot, Rs 66 million from RTO Hyderabad, Rs 13 million from RTO Quetta, Rs 169 million from RTO Gujranwala, Rs 23 million from RTO Sukkur and Rs 15 million from RTO Abbotabad. app

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