The Federal Board of Revenue (FBR) is expected to start raiding residential premises in order to recover undeclared dollars from people’s homes.
As per details, the process will begin once the Parliament approves the Finance Bill 2019. The bill has introduced a provision that allows the FBR to conduct raids on residential premises “where there is reliable information of undeclared gold, bearer security, or foreign currency and confiscate the same.”
The FBR says that people have stashed dollars and other foreign currencies in their homes and have no explanation as to where they came from or how they acquired them. The new Finance Bill 2019 would allow the board to raid such premises and recover the undeclared money.