ISLAMABAD: The Directorate General Intelligence & Investigation Inland Revenue has issued summon to the owner of a famous chain of medical stores. He was allegedly involved in tax evasion. The record shows that the person is operating fifteen accounts and he made more than thirty five foreign visits with his family during last few years.
The record of the person including his passports, bank statements and other documents will be analyzed to ascertain exact quantum of his taxable income. There is possibility that tax reference shall be filed against person before Special Judge (Taxation, Anti Smuggling and Customs) Rawalpindi as concealment of income and mis-statement to tax authorities is offence under Income Tax Ordinance, 2001 and punishable on conviction with imprisonment up to two years.
SECP proposes higher borrowing limits for microenterprises & housing loans
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has proposed raising the maximum loan limit for microenterprise and housing...
