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FBR issues notices to around 100 asset holders involved in tax evasion

FBR issues notices to around 100 asset holders involved in tax evasion

ISLAMABAD: Federal Board of Revenue (FBR) has issues notices to more than 100 assets holders who generated Payment Slip ID (PSID) however, these people didn’t paid these taxes till closing date of  government announced Tax Amnesty Scheme it is learnt here.

Official sources told Customs Today that FBR has decided to issue notices to those 3,661 asset holders who have filed declaration draft under amnesty scheme 2018 and also generated Payment Slip ID however, these people didn’t paid the taxes which is around Rs300 billion till last date July 31, 2018 and in this regard FBR issues notices to more than 100 assets holders in the first phase under section 122 of Income Tax Ordinance 2001.

Sources told that on the special directives of Member Inland Revenue (IR) Operations Habib Ullah the board is reviewed the matter and decided to take action against 1060 of those assets holders who wanted to declare their foreign assets while 2601 are those who wanted to declare their local assets.

All these assets holders were generated their Payment slip ID which having around Rs. 300 billion of taxes collectively but for some reasons they didn’t paid this amount till last date of government announced Tax Amnesty Scheme.

The board will take action under Section 111 of Income Tax Ordinance 2001, while they may be faced fine under section 182 of Income Tax Ordinance 2001 sources added.