ISLAMABAD: The country’s revenue authority, on the directions of Federal Board of Revenue (FBR) Chairman Tariq Bajwa, has started increasing pressure on tax avoiders.
In this regard, the Directorate General Intelligence & Investigation-Inland Revenue, Islamabad, has initiated probe against such people who are living a luxurious life but paying nominal taxes.
Sources said that the directorate has issued a summon to a person belongs to Rawalpindi and owner of a famous chain of medical stores and has more than 15 accounts in different commercial banks and owns luxury vehicles including Mercedes. Reportedly, the person and his family made more than 35 foreign visits during last few years, but declares negligible taxable income in his tax returns.
There is possibility that tax reference shall be filed against person before Special Judge (Taxation, Anti Smuggling and Customs) Rawalpindi as concealment of income and mis-statement to tax authorities is offence under Income Tax Ordinance, 2001 and punishable on conviction with imprisonment up to two years.
The record of the person including his passports, bank statements and other documents will be analysed to ascertain exact quantum of his taxable income.
