ISLAMABAD: Federal Board of Revenue’s Directorate General of Intelligence & Investigations (IR) has unearthed suspicious transactions committed by a beverage dealing concern of Multan, using benami accounts to commit tax evasion.
According to details, on the basis of credible information, Directorate of I&I-IR, Multan initiated investigations against a beverage dealing concern situated in Multan. The said concern is involved in evasion of tax and the style adopted to evade tax is to channel a huge portion of its receipts from various sources through the bank accounts of its employees.
Intelligence & Investigations-IR Director General Khawaja Tanveer Ahmed highly appreciated the efforts of officers and the staff involved in the investigations. One of the employees having an annual salary of Rs 1,158,872 and no other source of income was selected to start the investigation and his tax record along with his bank accounts was scrutinised. It was found that during tax years 2011 to 2015, Rs 1.789 billion were credited in his accounts. Consequently, the said employee was called on 22-09-2016 u/s 176 of the ordinance to bear witness regarding his accounts. He submitted his, year wise, total receipts amounting to Rs 30.641 million during tax years 2011 to 2014. It was found that the above figures are almost the same as declared in his income tax returns except for tax year 2013, where he has not filed any return. However, he failed to explain the sources of remaining receipts of Rs 1.75 billion.
