ISLAMABAD: Federal Board of Revenue (FBR) has clarified its position about a news item captioned “Fake CNICs sore point in FATF talks” appearing in an English daily (not The Financial Daily) Monday which has been quoted out of context.
While addressing the business community at Lahore Chamber of Commerce and Industry (LCCI) on March 13 (Sunday), Chairman FBR had expressed his concerns about non-compliance by majority of businesses with regard to furnishing CNICs of individuals making purchases worth Rs. 100,000 or above, as required by law.
The issue highlighted in the said meeting with business community at Lahore Chambers actually referred to factitious identity and fake entries being recorded by businesses. These remarks, by no means, related to issuance of CNICs byNADRA, said the clarification.
Likewise, FBR further stated that the comments made by Chairman FBR about talks with FATF have also been misconstrued and not properly comprehended in their true spirit. Furthermore, it is clarified that FBR as a regulatory body has been making all out efforts in ensuring compliance of FATF regulations in cases of DNFBPs, in letter and spirit, and is also fighting the menace of money laundering, by all means possible.