ISLAMABAD: Taking action against tax dodgers, the Federal Board of Revenue (FBR) Inland Revenue (IR) Intelligence and Investigating (I&I) has asked the owners/directors of all public and private housing societies to submit the record of investors and persons who made investments and purchase plots in their respective societies.
As per detail, the FBR has taken such measure following the letters sent by Financial Monitoring Unit (FMU) to National Accountability Bureau and FBR regarding the alleged tax evasion.
I&I-IR has also asked the owners/directors of the housing societies to present their own records of paid taxes, filed income tax returns and detail of personal and company’s bank accounts along with last four years’ transactions history.
I&I-IR has formed a special team of 350 officers including more than 20 officers of Inland Revenue to scrutinize the tax matters pertaining to the large companies and influential personalities, while legal action was being taken against the defaulters.
Sources informed that currently I&I investigating the tax matters of JS Bank and its owners Jehangir Siddiqui, Gulberg Greens, Star marketing, Bahria Town, DAMAC and other companies which were inviting the people of Pakistan for making investment in real estate sector of United Arab Emirates to find out the tax evaders for bringing them into tax net.
They added that I&I-IR would complete inquires in this regard within two or three days.
Sources also revealed that few housing societies were running their business in country without having any registration and National Tax Numbers.
