Pakistanis having offshore properties to be taxed

| PM directs FBR to focus on big tax evaders, non-filers

ISLAMABAD - Prime Minister Imran Khan Wednesday directed for expediting process of levying tax on the Pakistanis having offshore properties as per the country’s taxation statutes.

Prime Minister expressed these views while chairing a briefing on reforms and restructuring of Federal Board of Revenue (FBR) here at Prime Minister’s Office. Federal Minister for Finance Asad Umar, State Minister for Revenue Hamaad Athar, Chairman FBR Jehanzeb Khan and other high-ranking officers of the department were in attendance.

Chairman FBR gave a detailed briefing to Prime Minister Imran Khan on the details received by the department about the properties owned by the Pakistanis in foreign countries and levying and recovery of tax on these properties by the department.

He also gave a detailed overview of the information pouring in about the offshore properties of Pakistanis under the agreements signed with various countries and from other sources. He further informed the scrutiny process of the information received from these countries was underway and in this connection scores of people holding these properties were served with notices to explain their position on it, so that the taxable properties could be imposed with taxes as per the country’s laws.

To gear up the whole exercise the Offshore Taxation Commissionrate was already put in place and was fully operational in the major cities of the country including Karachi, Lahore, Peshawar, Quetta, Multan and Islamabad.

The Prime Minister further directed for expeditiously resolving the cases pertaining to offshore properties of the Pakistani nationals, adding in this connection the requisite resources and manpower should be provided to Offshore Taxation Commissionrate.

The Prime Minister directed the FBR to further strengthen the Offshore Taxation Commissionrate so that it would expeditiously and effectively accomplish the tax of bringing the people holding offshore properties in tax net.

The Prime Minister further directed the FBR to bring the non-tax filers and the big tax evaders in tax net to broaden the tax base of the country and in this connection take all corrective measures including simplification in the procedure of filing return and restoring the image of FBR as people friendly department working for the collective good of the nation.

The Prime Minister was also briefed on the measures taken for restructuring of FBR, weeding out corruption from the department, enhancing the capacity of the staff, revamping the overall tax collection mechanism, building  it image as public friendly organisation instead of its hostile image.

The revamping of taxation system in the light of the feedback of the tax payers would be on top of the agenda of the overall reformation of the department where the focus would be on facilitating the people instead of its distorted image of fleecing taxpayers.

The Prime Minister was informed that to make the department’s performance more effective the performance report of the officers would also be evaluated on regular basis and the internal audit section of FBR would also be separated from the department so that it could come up with its reflection on the working of the department in more transparent and independent way.

On the occasion, Imran Khan said that unlike past the money of taxpayers would be spent on their welfare instead of lavish spending on the rulers.

He further said that the main challenge would be to restore the image of the FBR in the eyes of taxpayers and stressed the need for bringing transparency in the whole mechanism of tax collection besides changing their attitude toward the taxpayers. He said that government to take all measures for revival of textile sector

Prime Minister Imran Khan Wednesday emphasised upon paying special attention to the skill development of the youth in the country while keeping in view the requirements of the local and international markets.

The Prime Minister was chairing a meeting on the issues pertaining to the textile sector. The meeting was attended by Advisor to PM on Commerce, Textile and Industry Production Abdul Razak Dawood, Secretary Textile Division Iftikhar Babar and other senior officials, PM Office media wing in a press release said.

The Prime Minister assured that the federal government would extend all possible support for the revival of the textile sector.

He noted that for the stability and improvement of the national economy, special attention should be focused on the wealth creation and skill development for the creation of job opportunities.

The Secretary Textile Division briefed the Prime Minister about different issues related to the textile sector, especially to the Lahore Garments City, Karachi Garments City and Pakistan Textile City Limited etc.

He also briefed the Prime Minister about the proposed skills development programme under which about to 120,000 youth could be imparted skills training in the next five years.

Meanwhile Senior Representative Pepsi USA Mehmood Khan called on Prime Minister Imran Khan here at the PM Office.Advisor to PM on Commerce Abdul Razak Dawood was also present in the meeting.

Member National Assembly Malik Muhmmad Ehsan Ullah Tiwana also held separate meeting with the PM at his office as well.

Pakistanis having offshore properties to be taxed


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