KARACHI: The Intelligence and Investigation, Inland Revenue, the Federal Board of Revenue (FBR) has found tax anomalies in the sales record of ‘Threadz’ which is an exclusive authorized sales point for famous designers such as Needles by Shalimar and Asim Jofa. Threadz is running two outlets in Karachi — at Clifton and Gulshan-e-Iqbal.
According to sources, the owners of Threadz are in contact with the FBR as the short paid amount of sales tax evasion is being settled between them.
The amount on which FBR and Threadz are in discussions is around Rs 5 to 6 million sales taxes. Meanwhile, another three elite fashion designers are also in under observation by FBR, the sources said.
Sources said that the FBR has the data of as many rich designers, who are not on the tax roll or doesn’t file tax returns, and the recent drive against fashion designer will be continued in future rapidly.
In addition to fashion designers, sales tax on services is also applicable to interior decorators, program producers, production houses, event managers, event photographers, event videographers, body massage centers, pedicure centers, healthcare centers and gyms.
