The Federal Board of Revenue (FBR) has stepped up efforts to recover funds from tax evading schools, colleges and other education centres, it was learnt on Monday.
In this connection, the Broadening of Tax Base Zone, RTO-II, Karachi has devised a strategy for broadening of tax base on the directives of the chief commissioner, said sources.
They said a special team of BTB wing has been directed to visit and unearth unregistered businesses of schools, colleges and other educational businesses in the city for the purpose of broadening of tax base.
Simultaneously, an awareness campaign is also being carried out in which the BTB will provide necessary information on businesses registered with tax authorities, added sources.
Meanwhile, the BTB wing of the FBR based in RTO Karachi has also devised a strategy to launch a comprehensive campaign to include the potential taxpayers into the tax net.
In the line of the directives, newly established supermarkets shall be brought into tax net.
Tax authorities have devised a strategy to launch a campaign to include potential taxpayers into tax net
In another development, the BTB has sent 16,000 notices to salaried persons, who have taxable income, but are not filing their annual income tax returns.
Also, a data regarding purchase of 2,000 high-valued properties has been acquired and notices shall be issued for filing returns, added sources.
Internal sources claim that BTB will leave no stone unturned to educate businessmen regarding benefits of coming into tax net.
Recently, the FBR raided a private school situated at Block 15, Gulistan-e-Jauhar- Karachi whose owner was maintaining multiple accounts other than those officially declared. Further probe into the matter revealed that the school was running a gym at its premises and the receipts from the gym remained undeclared.
The FBR has already directed all its wings to deal with cases in the following categories on a fast-track basis: cases in which tax related information has been received from foreign jurisdictions, cases identified and circulated by IR operations wing, cases emerging from discrepancy reports generated and circulated by the Directorate General of BTB.
Published in Daily Times, March 5th 2019.