ISLAMABAD: Federal Board of Revenue (FBR) has raided Green School, Medina Cash & Carry and Top City Builder involved in tax evasion and confiscated important record and computers.
Official sources told Customs Today that the board under its drive against tax evaders has formed teams and raided the Green School situated in Diplomatic Enclave, Medina Cash and Carry and a famous builder of the Islamabad named Top City Builder. Sources informed that the team found that these organizations are allegedly involved in tax fraud worth of billions by disposing of assets and not declaring the income. The raid was conducted under Section 38 of Sales Tax Act, 1990 and Section 175 of Income Tax Ordinance, 2001.
Meanwhile, the team members thoroughly examined the record available in the premises and took the computers and the other relevant data under proper seizure/record while the resumed record is under examination and further progress in the case will be reported in due course of time, sources confirmed.
It is important to mention here that earlier the FBR also raided the local real estate builder Red Sun allegedly involved in Rs8.44 billion tax evasion.
