Karachi: The Federal Board of Revenue (FBR) is looking to identify taxpayers by scrutinising the cash withdrawals from banks, a news source reported. FBR is looking to obtain data of individuals who make transactions of up to PKR 50,000 per day or PKR one million per month, whether they are filers or non-filers.<\/p>\n
Data of the past six years will be obtained. A Statutory Regulatory Order (SRO) had been issued earlier this month, amending the Income Tax Rules 2002, which made it mandatory for the banks to provide these details. The banks are now mandated to provide the details of accountholders including their name, CNIC number, address and the amount they withdrew during a month.<\/p>\n
Previously, the banks had been unable to provide information on accountholders because of secrecy clauses and documentation issues. Now, however, when the law has been changed, banks would find it easier to provide the details.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi: The Federal Board of Revenue (FBR) is looking to identify taxpayers by scrutinising the cash withdrawals from banks, a news source reported. FBR is looking to obtain data of individuals who make transactions of up to PKR 50,000 per day or PKR one million per month, whether they are filers or non-filers. Data of the past six years will be obtained. A Statutory Regulatory Order (SRO) had been issued earlier this month, amending the Income Tax Rules 2002, which made it mandatory for the banks to provide these details. The banks are now mandated to provide the details of accountholders including their name, CNIC number, address and the amount they withdrew during a month. Previously, the banks had been unable to provide information on accountholders because of secrecy clauses and documentation issues. Now, however, when the law has been changed, banks would find it easier to provide the details.<\/p>\n","protected":false},"author":57,"featured_media":26795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[8909],"persona":[],"class_list":{"0":"post-44154","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-fbr-to-obtain-data-on-bank-accounts"},"acf":[],"yoast_head":"\n