Federal Board of Revenue (FBR) Chairman Shabbar Zaidi said it had been made abundantly clear in the amnesty law that those who repatriate money from abroad under the scheme will have their confidentiality protected and no further action will be taken against them.
Addressing a press conference regarding Pakistan Economic Survey report, he said, “Tomorrow, the Finance Bill is being tabled and I have made it more clear in the bill that neither their information can be leaked nor any (legal) proceedings can be initiated against them,” he said.
The FBR chairman said that the State Bank of Pakistan (SBP) has nothing to do with the amnesty and that the central bank was only a conduit to receive the money.
“The scheme is a confidence-building measure and till date I have received no complaint concerning action against a person who brought money from abroad,” he added.
“I held a meeting with chief financial officers of banks and they assured me that banks will provide us computerised national identity card (CNIC) numbers mentioned in withholding statements — which were not providing before,” he said.
The chairman said that banks had also assured the government to share details of benami accounts, whereas the SBP’s nod in this regard had already been obtained.
“We have also approached DISCOs and at a large extent we have obtained information about those people having industrial power connections but are non-filers,” he said, adding that the FBR is also obtaining data from those four to five big heads from where people are availing facilities without being filers. In my opinion we did not have this information before,” he said.
FBR chairman must be questioned first as he has managed tax evasions for much of his clients as core business practice.
FBR chairman is plain idiot. He is only making FBR look even more stupid.
By breaching the privacy and trust of:
1. Common tax payer who is already owning bank accounts.
2. Account holders who automatically pay WHT on every small transaction and profit.
3. Someone who owns even 500k Rupees will be checked. How stupid.
He has no balls to go after the unbanked 79% of Pakistan population!!
Yes!! 79% unbanked undocumented population on all financial transactions..
By pushing thru this stupidity, FBR is only destroying whats left of SMEs, that are fighting for survival in an already collapsing and failing economy..
FBR needed someone with balls of steel and not an ostrich to keep head down infront of big proven global thieves like zardaris and sharifs.. and hundreds of families that are their front and middle men…
Mr. Naqvi.. grow some! And leave the suffering common man alone!!
Correction: Mr Shabbar Zaidi.. not Mr. Naqvi..
Everyone knows every businessman keep his personal account and this is not new. Write it now it will tighten the business investment in Pakistan. Get ready for desaster in financial sector of Pakistan.
100% agree with his comments.
Why is FBR chief threatening ordinary citizens. Why is he not straight away doing investigation of PPP and PMLN big wigs and their businesses, and the judiciary personnel, and all those owning and living in Defense villas.
The reason is simple, he is afraid of them.
FBR should also look about resturants using govt service roads footpaths earing thousands a day and paying no tax.There should be some formula to bring them in tax network.
By tightening the screws on common man the FBR chief is only inviting disaster in an economy which is at it’s last breath. Shame on you Shabbar Zaidi you don’t have any balls to go after the extra elite class which are not paying a single Penny in tax.
Look at the criterion they have set
1.500 k or more in account.
2. having vehicle of 2400 cc or above.
3. Living in 2 kanal or above residence.
4. Travelling abroad thrice in year.
5. monthly credit card bill of 200k
Last 4 are okay but number 1 is ridiculously low and a joke.
This will only create chaos
I think the FBR is right in its approach. The ones that are howling the most are afraid of their loot!! I think he should tighten the screws around these vultures and parasites.
Now these loosers are allowing non filers to purchase property worth over 5 million.
This is how they will broaden the tax net!
Bull shit !
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