FBR sends notices to more than 2,000 people over 'expensive gifts'
July 26, 2017
ISLAMABAD: The Federal Board of Revenue (FBR) has sent notices to over 2,000 people who declared receiving expensive gifts in their wealth statements in the last fiscal year.
FBR officials believe the untaxed ‘gifts’ could have been used to launder money and evade taxes.
Sources in the FBR said that three people received gifts of Rs1 billion or more, eight received gifts between Rs500 million and Rs1 billion or more, 97 received gifts between Rs100 million and Rs200 million and 280 people received gifts between Rs50 million and Rs100 million.
Moreover, FBR officials said 2,000 people received gifts between Rs10 million and Rs50 million in the outgoing fiscal year.
