50,000 foreign bank accounts owned by Pakistanis traced

The Federal Board of Revenue (FBR) has decided to launch a crackdown against tax defaulters as data of 50,000 bank accounts being operated by Pakistanis across the world, has been traced out, a private media outlet reported Wednesday.

According to reports, the FBR has initiated the first phase of crackdown against the tax defaulters and hoped to receive more details in this regard within the next few days.

“The accounts traced so far were being operated in Spain, Italy, France, Germany and other countries and bulk of them were held by the people of Karachi, Lahore and Islamabad,” reports quoted an FBR official as saying.

According to law, the information of the account holders will be kept confidential.

The FBR has also traced down as many as 867 properties of Pakistani nationals in Dubai worth Rs38 billion.

“As many as 316 people legalised their properties through amnesty scheme by paying tax of Rs1.2 billion,” the official said further.