The newly appointed chairman of the Federal Board of Revenue (FBR) Shabbar Zaidi imposed restrictions on raids on premises of the taxpayers of the country.
As per the notification issued by the FBR, prior approval will be required from Member (IR-Operations) and the chairman FBR to conduct the raid.
“If there are pieces of evidence of the economic transaction(s) which are chargeable to tax and the organization/entity is not a tax registered person then the officer will report it to the Member (IR-Operations) and Chairman FBR, who will provide the necessary direction for the future course of action,” the notification reads.
According to the details, the notification has also prohibited the suspension from active taxpayers list unless there is personal interaction with the Chief Executive Officer/owner of the business 24 hours before the suspension. The list of the all such cases will be sent to the chairman of the Federal Board of Revenue (FBR) and Member (IR-Operations) along with the reasons for the suspension as well as the evidence of the personal interaction with CEO/owner.
Mr Zaidi, the chairman of the Federal Board of Revenue (FBR) further said that the names of the people who would benefit from the newly announced amnesty scheme will be kept secret. While talking to media, he said that 4% tax would be implemented on the assets within the country while 6% tax would be implemented on the assets outside Pakistan adding the real estate with the country would have to pay 1.5% tax on declaring of assets.
While answering a question, chairman FBR said that all the details of the amnesty scheme would be available on the official website of the Federal Board of Revenue (FBR) soon. He added that they are taking all the provincial governments of Pakistan into confidence in this regard.