Wednesday, October 21, 2020

FBR Inland Revenue raids a private school, detects hefty scale tax evasion

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
The special unit of the Federal Board of Revenue (FBR) has started rounding up tax evaders and those concealing revenues. Regional Tax Office-III has now taken up the school owners following regulatory action against politicians, businessmen and celebrities.

 

In pursuance of information that a certain taxpayer is maintaining multiple accounts other than declared, a private school was raided by the tax officials.

 

It was found that the owner of a private school in Gulistan-e-Jauhar, Karachi is maintaining multiple accounts to conceal receipts and income.

 

It was also known that the school is also running a gym in the premises and the receipts from the gym remained undeclared.

 

Moreover, the taxpayer had only declared one Gulistan-e-Jauhar campus, while two other campuses identified as Gulshan campus and Isphahani campus were kept undeclared.

 

Scrutiny of the record, obtained from school premises, revealed that the taxpayer had received a total of Rs390 million in four years while only Rs200 million was declared and a sum of Rs 190 million was concealed.

 

These funds were received in various bank accounts.

 

It is pertinent to mention here that the private schools mint healthy amount from the parents who squeeze themselves to pay the money educating their children.

 

 

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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