LAHORE: The Federal Board of Revenue (FBR) has started actions against the directors of the big companies and sought reply from the directors about the assets and tax details.
According to Federal Board of Revenue (FBR), the companies’ returns show loss but directors of the companies are living in the bungalows and travelling in the luxury vehicles. The companies are paying heavy salaries to the directors despite the losses.
Sources told Customs Today that the Chairman FBR ordered all the Regional Tax Offices (RTOs) and Large Taxpayers Units (LTUs) to conduct the audit of the assets of directors of the companies.
Specifically in Lahore, more directors’ cases fall in the jurisdiction of the Corporate Regional Tax Office (CRTO), then comes Large Taxpayer Unit (LTU) and least important cases fall in the Regional Tax Office-(RTO-II).
According to Customs Today, the Chairman FBR ordered all the sub-offices to start work regarding the audit of the assets of the directors and the FBR will take action if any discrepancy is found.
