ISLAMABAD: The Federal Bureau of Revenue (FBR) is reported to have frozen bank accounts of country’s 15 richest people for non-payment of tax.
This came after International Monetary Fund’s (IMF) managing director Kristalina Georgieva urged upon the Shehbaz Sharif government in February to ensure that its rich paid taxes and only the poor got the subsidies if the country wants to function as a country.
“My heart goes to the people of Pakistan. They have been devastated by the floods that affected one-third of the population of the country,” she told German broadcaster Deutsche Welle on the sidelines of the Munich Security Conference.
MM News has learnt through media reports that fast-tracking the action against tax defaulters, the FBR made the move against the wealthy people for not paying one percent capital value tax on Rs100 million assets kept abroad.
These 15 richest people owed some Rs450 million in taxes to FBR.
Sources said the Board has constituted 15 teams in this regard which after meeting all legal requirements froze these bank accounts.
The FBR has maintained that the high court has upheld the imposition of this capital value tax by declaring it legal.
The FBR also recalled that the prime minister had also directed it to accelerate the tax recovery process from wealthy tax defaulters.
According to sources in FBR, the 15 tax defaulters included names of some prominent businessmen and bankers.
