Nomination papers: Super rich candidates slip under FBR radar
The revenue watchdog has identified hidden assets worth over Rs1000 billion.
(Dunya News) – Super rich individuals have slipped under the radar of Federal Board of Revenue (FBR) after submitting nomination papers for general elections 2018 with Election Commission of Pakistan (ECP).
As per details garnered, the revenue watchdog has identified hidden assets worth over Rs1000 billion disappearing from the tax net.
Sources privy to development stated that FBR had initiated probe to determine legitimacy of the income. Startlingly, the candidate whose nomination papers show that he posses assets worth over Rs400 bn had not file tax returns.
Inside-aware further revealed that any candidate who is yet concealing assets can either be disqualified or declared ineligible for whole life under Articl-61 and 62 or can face both penalties.
According to a tax official, the tax collection from these candidates can add billions in the national exchequer.
Earlier, Mohammad Hussain Shaikh, contesting the National Assembly and Punjab province elections, declared assets worth around Rs 403 billion.
Mohammad Hussain Shaikh, contesting from NA-182 and PP-270 in Muzaffargarh, claims that he owns land comprising almost 40 per cent of Muzaffargarh city as well as the Lang Malana, Taliri, Chak Taliri and Latkaran areas.
