The Federal Board of Revenue (FBR) has imposed new conditions on the real estate agents, jewelers, and accountants to get Pakistan off the Financial Action Task Force (FATF) gray list.
According to the notification issued by the FBR, these restrictions have been imposed on property dealers and real estate agents. Under the new terms, designated non-financial businesses and professional criminals will be barred from doing business.
In addition, no business dealings will be made with anyone involved in crime. According to the statement, anti-money laundering and anti-terrorist financing laws have also been changed.
According to the notification, the DNFBPs should inform the FBR about the change in ownership, change of beneficial owner, or senior positions.
Jaageer News.
