Monday, May 18, 2009

Taxpayers' foreign assets: FBR has authority to investigate

ISLAMABAD: The Federal Board of Revenue (FBR) has legal authority to investigate assets held outside Pakistan, depending on whether the tax authorities have sufficient evidence of unexplained assets under Income Tax Ordinance 2001. Sources told Business Recorder on Saturday that if the assets purchased outside Pakistan have not been declared in the wealth statement, it is difficult to check the

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