Islamabad: In the pursue to full fill the demands of FATF, the government has decided; without giving CNIC, mobile number, and the source of income: any person cannot buy any kind of property and jewelry.
Federal Board of Revenue has directed to all the tradesman, to fill a form from the customer; where the CNIC number, along with the mobile number, followed by revealing the source of income should be obligatory. Initially, FBR has made a summary to amend the income tax policy 2002, thus the jewelry dealers and real estate agent shall provide the data of the customer to the government.
To be noted, on October 19, FATF sustained Pakistan in the gray list and asked to fulfill its action plan by February 2020. Amongst one of the commitments in completing its actions, involve:
“demonstrating that authorities are identifying cash couriers and enforcing controls on the illicit movement of currency”
This is why the new law by the government has been implemented.
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