FBR should focus on actions that bring in fast and tangible results
KARACHI: The Federal Board of Revenue has planned on initiating an action against Pakistanis who have shifted immovable assets to Britain. While on the surface of it the action seems like a good plan, making Pakistanis accountable for their wrongdoings but the challenges before the FBR are multiple.
Firstly, the authorities lack actionable information. It would be no easy task for the FBR to get all the information it needs to conduct investigations, even though the action is being initiated on the basis of the information received from the UK itself.
Secondly, keeping in mind such initiatives that were taken in the past, the duration of this action will take long before fruitful results are seen. In case the action taken is not completed during the PTI government’s tenure, then a change in government can gravely affect the procedure that may be undertaken by the FBR.
Hence, it is advisable that the FBR should focus on taking actions against tax evaders within the country than use resources to conduct investigations in foreign lands. Therefore the FBR should focus on actions that bring in fast and tangible results.
Munawar Sheikh
Published in The Express Tribune, August 8th, 2018.
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