Saturday, 15 June 2024
Trending
Tax notices issued to Freelancers by FBR on billion dollars scam exposed by FBR
TAXATION

Freelancers Get Tax Notices of Billion Dollars Scam Exposed by FBR

The Federal Board of Revenue (FBR) has exposed a mega scam involving Rs60 billion overseas transactions, made by a foreign company to 70,000 individuals in Pakistan, who did not mention those to the tax authority.

Investigations into the scam needed issuance of show-cause notices to 70,000 individuals. The exercise is likely to fetch about Rs10 billion taxes and expand the tax net, added the sources. Such amount sent by a company registered in the US, but it has no trace in Pakistan. Remittances were sent by engaging different 27 banks on the sale of different items and freelancer consultancy.

The FBR officials told this correspondent that out of 70,000 individuals, 45,012 not registered with the FBR. And 17,985 had filed income tax returns with the FBR but did not pay any tax. They never showed any income from the international remittances. Other 12,618 individuals registered with the FBR and NTNs issued, but did not pay any tax, neither filed the Tax returns.

See also  FBR's helplessness against tax dodgers

The investigation showed that a huge amount of Rs60,308,760,650 disbursed to 75,615 beneficiaries in Pakistan. By Using local banks in Pakistan in less than two-and-a-half years.

Tax Notices | FBR | Federal Board of Revenue | Freelancers | IT Enabled Services | Scams |

Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: