The Federal Bureau of Revenue’s (FBR) revenue collection recorded a growth of over 30 percent in the first 15 days of the 2017-18 fiscal year – a rise that has surprised most officials.
With most senior government fiscal authorities and key ministries busy in responding to the Joint Investigation Team’s (JIT) Panama papers investigation, the general perception was that normal government operations will take a backseat.
However, increased revenue collection and a new investigation launched by FBR’s Anti-Money Laundering (AML) cell into money transferred as “gifts” by wealthy individuals to avoid taxation indicates that instead of slowing the fiscal authorities down, the Panama papers distraction has given them new impetus.
This seems to be the case when one looks at the AML investigation into money laundering disguised as “gifts”.
Like the use of offshore companies, transferring large sums of money as gifts – which are not taxable –
... read more at: http://nation.com.pk/editorials/20-Jul-2017/a-one-track-fbr