KARACHI – Federal Board of Revenue has initiated legal action againstbusinessman who failed to avail the opportunity of disclosing their UKproperties under the tax amnesty scheme, sources told on Wednesday.
The Federal Board of Revenue’s exchange of information cell had sentnotices to 500 people who owned properties in the UK, after the schemeended on July 31st.
As per a well-placed source, 80 percent responded to the notices by 31st Augustand most of those received either declared their assets or whitened themunder the amnesty scheme.
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FBR was able to amass Rs122 billion in revenue since roughly 70,000declarations were made under the domestic and foreign tax amnesty scheme.
