FBR asks real estate agents to submit record of investors

Strict conditions imposed by the Financial Action Task Force (FATF) have created more problems for the real estate agents as the Federal Board of Revenue (FBR) has directed them to give the record of the people investing in the sector in Khyber Pakhtunkhwa (KP), Balochistan and Southern Punjab, reported 24NewsHD TV channel on Tuesday. 

Quoting sources in the FBR, the TV channel reported that the reason why details of transactions made in these areas had been sought because these were considered as high-risk areas from the investment point of view.

They further disclosed that the real estate agents had been asked to submit details of applications accepted and rejected in these areas.

Agents had also been asked to provide information about the resident and non-resident investors, the sources revealed.

Reporter Waqas Azeem