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