Friday, February 28, 2020

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

Featured

Coronavirus: Japan asks students not to leave their homes except for necessity

Japanese Education Minister Koichi Hajioda said on Friday that the government is asking children to stay in their homes...

Coronavirus spreading rapidly outside China: Fear affects markets

The number of new coronavirus infections within China, the source of the outbreak, was surpassed for the first time...

UN calls to combat coronavirus-related discrimination

UN chief human rights official Michelle Bachelet asked the global community on Thursday to show solidarity with people of...
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]

Latest News

Coronavirus: Japan asks students not to leave their homes except for necessity

Japanese Education Minister Koichi Hajioda said on Friday that the government is asking children to stay in their homes...

The United Nations calls for an immediate cease-fire in Syria

Secretary-General António Guterres called on Friday for an immediate ceasefire in Syria, his official spokesman said in a statement. The spokesman added that Guterres was...

Protective masks crisis around the world will not subside soon

If you are worried about Corona, and you have trouble getting medical masks, these numbers will explain why: China is the largest producer of...

Coronavirus spreading rapidly outside China: Fear affects markets

The number of new coronavirus infections within China, the source of the outbreak, was surpassed for the first time by new cases in other...

UN calls to combat coronavirus-related discrimination

UN chief human rights official Michelle Bachelet asked the global community on Thursday to show solidarity with people of Asian ethnicity subject to discrimination...

Related News