KARACHI: In its ‘first operation’ against any offshore company, the Federal Board of Revenue’s (FBR) intelligence wing has raided the office of a hair transplantation clinic in the posh locality of Clifton.
The teams of FBR’s Directorate of Intelligence and Investigation, Inland Revenue seized the business records of the clinic, whose parent company is registered in Dubai as an offshore company.
According to the official sources, the company is a tax evader and has used illegal channels for transferring money from Pakistan. The owner made huge income from local business but did not declare it to the tax authorities, sources said, adding, “Instead, the amount shifted to Dubai accounts to conceal his local income.”
The raid was conducted as per the Anti-Money Laundering Act of 2010. Sources said the FBR would take further action after investigating the records withheld in the raid.
