Malik apprised that most of the black money was parked in real estate sector and now the government would adopt stringent measures to broaden the tax base from July 1, 2018; adding that strict action would be taken against people who would not disclose their undeclared assets.
He said that the purpose of attaining information related to the allottees from builders and developers was nothing but to identify potential taxpayers, showing consentient to entertain ABAD request of withdrawing notices issued to builders and developers in this regard.
Meanwhile, Chairman ABAD Arif Yousuf Jeewa said that builders and developers were being harassed through notices and allottees had now started asking them to return their money. He feared of heavy losses and all construction activities might be suspended, if these notices were not withdrawn. He advised the FBR to take all information related to the allottees from departments concerned as the same was provided to them at the time of property registration.