In a major development, the Dubai Land Department will provide information of the properties owned by Pakistanis in Dubai, Federal Board of Revenue (FBR) Chairman Shabbar Zaidi announced on Friday.
“We are pleased to inform that a very productive meeting has been held in Dubai on October 9 and 10 on the matter of exchange of information. Dubai Land Department will instantly provide details of Pakistani owners of Dubai Properties,” Zaidi said on Twitter. The FBR chairman added that ‘Iqama abuse was also being handled’. Last year the government of Pakistan issued notices to 300 Pakistani nationals who owned properties in the United Arab Emirates. According to details, notices would to be sent to individuals who own six or more properties in UAE. They will be inquired about their sources of income and tax paid by them.
Addressing a discussion forum on October 5, Zaidi had said that in the last 20 years, around $6 billion had been siphoned off on an annual basis from the country. Noting that this figure had been reported in the Supreme Court of Pakistan as well, he had described the flight of capital from the country was a serious matter.
Zaidi is currently burdened with the difficult task of ensuring Pakistan meets a highly ambitious tax target for the ongoing fiscal year, and has vowed to go after tax cheats and evaders using all means at his disposal.
