ISLAMABAD: The Federal Board of Revenue (FBR) has started receiving details of billions of rupees owned by Pakistanis in Panama, Bahamas and Virgin Islands under the OECD agreement. In this regard, the government of Dubai has sent details of assents owned by 600 Pakistanis to the FBR. These details are about flats, bungalows and other immovable assets owned by Pakistanis along with their names and addresses. The FBR will start issuing notices to these 600 Pakistani citizens next month.
The notice will seek confirmation from the owners of properties in Dubai and in case of their denial, an investigation will be held to determine ownership of these properties. Sources estimated Rs300 billion revenue is expected to be generated from these 600 Pakistanis by June 30.
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