The Federal Board of Revenue (FBR) has obtained information regarding immovable properties owned by Pakistanis in the United Kingdom.

The information has been obtained with the assistance of the Organisation for Economic Cooperation and Development (OECD) and UK's tax authorities, an FBR statement said.

According to the statement, the information is being analysed by the board for further action.

Also read: Act now or cry later, FBR chief warns Karachi businesses

Pakistan had signed the OECD Convention on Mutual Administrative Assistance in Tax Matters in September 2016, and the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Sharing (BEPS) as well as the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Accounts (MCAA) in June 2017.

Becoming a signatory to the OECD convention facilitates international cooperation on national tax laws and provides administrative cooperation among member countries to combat tax evasion.

The government had recently announced amnesty schemes including the Voluntary Declaration of Domestic Assets Act, 2018 and the Foreign Assets (Declaration and Repatriation) Act, 2018, which received an unprecedented response.

Over 55,225 declarations were filed, with the declared value of foreign assets amounting to Rs577 billion and that of domestic assets around Rs1,192bn, the FBR statement said.

The declarants paid around Rs97bn in taxes, including Rs36bn on foreign assets and Rs61bn on domestic assets, whereas $40 million were repatriated.

The original closing date for filing declarations under the amnesty scheme was June 30, 2018, which was later extended till July 31, 2018.