Punjab Revenue Authority Uncovers Alleged Tax Evasion of Rs9 Billion in EIGHTEEN
Punjab Revenue Authority Uncovers Alleged Tax Evasion of Rs9 Billion in EIGHTEEN

The Punjab Revenue Authority (PRA) Wednesday unearthed alleged tax evasion of Rs9 billion in a private housing scheme EIGHTEEN Housing Scheme, Rawalpindi.

Read More: Descon Oxychem Ltd Achieves HACCP Certification, Paving the Way for Global Markets

According to the PRA spokesperson, the PRA Rawalpindi Commissionerate detected tax evasion worth billions in a raid at EIGHTEEN Housing Scheme, Rawalpindi. The scheme has a covered area of over 600 acres with 976 apartments, 1,068 villas of 0.5 to 8 kanals along with a five-star hotel, a golf club and other mega facilities.

Acting on intelligence, a team of PRA Enforcement Officers, led by Sobia Anum, Arsalan Tariq, and Adeel Ahsan, raided the housing scheme’s premises and confiscated all pertinent documents. The raid was authorized by the PRA Rawalpindi Commissioner and Additional Commissioner Tauqeer Ahmed, who instructed the team to thoroughly scrutinize tax-related records.

Preliminary investigations revealed tax evasion worth Rs9 billion, prompting the PRA to issue a show-cause notice to the housing society, directing them to deposit 100 percent of the evaded tax in the PRA account within a specified timeframe. A formal investigation has also been launched, and tax evasion proceedings will be initiated accordingly.

Additional Commissioner Tauqeer Ahmed, PRA Rawalpindi, emphasized the importance of complete tax compliance and documentation, stressing that mere registration with the PRA does not absolve companies of their tax obligations. He reiterated that the housing society had previously been served with two show-cause notices regarding tax irregularities.

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up for Our Newsletters

Get notified of the best deals on our WordPress themes.

You May Also Like

Pau-Pau will lead foodpanda’s foray into ever changing

To celebrate more than 5 years in Pakistan and 10 years in…

Bank Alfalah and The Beaconhouse Group sign MoU for Personal Loan Financing Solutions

Bank Alfalah and The Beaconhouse Group – one of Pakistan’s biggest tuition-based…

ABHI Onboards Naveena Group to Provide AbhiSalary to 5,000 Employees

ABHI, an embedded fintech company, has signed an agreement with Naveena Group…

Beaconhouse International College partners with Innovators Garage

The Beaconhouse International College (BIC) recently signed an agreement with the Innovators…