Staff Reporter
The Federal Bureau of Revenue (FBR) on Friday decided to tighten the noose around owners of the big bungalows in the federal capital by bringing them in the tax net.
According to sources, owners are receiving rent of millions of rupees from their bungalows and residences in the posh sector. Some owners even getting rent in foreign currencies, the sources added.
The sources said the FBR has decided to impose a tax on the rent income.
On Thursday, the intelligence unit of the Federal Board of Revenue (FBR) had raided a wood factory in Rawalpindi and seized all the record. The factory, located in the Rawat area of Rawalpindi, was preparing wood furniture on a large scale but evading taxes by showing low sales.
The FBR said further investigation was under way.
