KARACHI: The Federal Board of Revenue (FBR) is considering sending notices to private schools and educational institutions for the recovery of taxes.
Sources in the FBR told Customs Today that these notices will be sent to these defaulting educational institutions after August 10, 2015. Sources further revealed that these educational institutions are bound to reply the notices in which they should provide full details about their income resources including students fees, rent of building, teachers salaries and other expenditures.
Sources said that majority of these educational institutions are did not disclose their income, as estimates shows that there are 450 defaulting educational institutions are operating in Karachi.
On the other hand sources in Regional Tax Office II also confirms to this scribe that after conducting a thorough survey all educational institutions who are avoiding to pay tax despite having reasonable income must be bring under tax net.
