{"id":55917,"date":"2019-10-04T09:56:33","date_gmt":"2019-10-04T04:56:33","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=55917"},"modified":"2019-10-04T09:57:03","modified_gmt":"2019-10-04T04:57:03","slug":"fbr-launches-operation-against-people-hoarding-usd","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-launches-operation-against-people-hoarding-usd.html","title":{"rendered":"FBR launches operation against people hoarding USD"},"content":{"rendered":"<p>Karachi: The Federal Board of Revenue (FBR) has launched a crackdown against the stockpiling of United States (US) dollars, according to news sources. The department has also decided to obtain records of people who buy dollars from money exchange companies.<\/p>\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-discontinue-tax-broadening-zones-trace-non-filers.html\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>FBR to discontinue tax broadening zones to trace non-filers<\/strong><\/a><\/p>\n<p>FBR had also asked for assistance from the State Bank of Pakistan (SBP) in this regard. The SBP clarified in its reply that the state regulates the money exchange companies as dictated in the Foreign Exchange Regulation Act. However, SBP maintained that the <a href=\"https:\/\/www.zameen.com\/news\/fbr-notifies-20000-tax-evaders-identified-tax-profiling-system.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR<\/a> is within its rights to gather the needed data as it operates under the Income Tax Ordinance 2002 and is allowed to get information on the buyers.<\/p>\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/declaration-of-foreign-assets-income-must-for-pakistanis-fbr.html\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Declaration of foreign assets, income must for Pakistanis: FBR<\/strong><\/a><\/p>\n<p>The government is also seeking assistance from all the relevant agencies (Federal Investigation Agency (FIA), SBP, FBR and Financial Monitoring Unit (FMU) etc.) to launch a crackdown against the mining of the dollars. The operation seeks to bring the rate of exchange for dollars in the rupee market back to its free market rates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The Federal Board of Revenue (FBR) has launched a crackdown against the stockpiling of United States (US) dollars, according to news sources. The department has also decided to obtain records of people who buy dollars from money exchange companies. Read: FBR to discontinue tax broadening zones to trace non-filers FBR had also asked for assistance from the State Bank of Pakistan (SBP) in this regard. The SBP clarified in its reply that the state regulates the money exchange companies as dictated in the Foreign Exchange Regulation Act. However, SBP maintained that the FBR is within its rights to gather the needed data as it operates under the Income Tax Ordinance 2002 and is allowed to get information on the buyers. Read: Declaration of foreign assets, income must for Pakistanis: FBR The government is also seeking assistance from all the relevant agencies (Federal Investigation Agency (FIA), SBP, FBR and Financial Monitoring Unit (FMU) etc.) to launch a crackdown against the mining of the dollars. The operation seeks to bring the rate of exchange for dollars in the rupee market back to its free market rates.<\/p>\n","protected":false},"author":75,"featured_media":22258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[13273],"persona":[],"class_list":["post-55917","post","type-post","status-publish","format-standard","has-post-thumbnail","tag-details-on-fbr-launches-operation-against-people-hoarding-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR launches operation against people hoarding USD - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The Federal Board of Revenue (FBR) has launched a crackdown against the stockpiling of United States (US) dollars, according to news sources. The\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-launches-operation-against-people-hoarding-usd.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR launches operation against people hoarding USD - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The Federal Board of Revenue (FBR) has launched a crackdown against the stockpiling of United States (US) dollars, according to news sources. 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