Directorate of Intelligence & Investigation Inland Revenue has filed a reference with the special court taxation, customs and anti smuggling Rawalpindi, against the directors of a renowned hotel of Islamabad. It is learnt that the Intelligence & Investigation IR is the premier intelligence agency of FBR entrusted with role of investigation to detect tax fraud and initiate criminal proceedings against the those involved in tax evasions and tax frauds.
The intelligence wing of FBR had been investigating the tax affairs of this hotel and its directors. This hotel is a private limited company having four directors and closely located to the Benazir International Airport Islamabad. The reference has been filed under section (u/s) 203 of Income Tax Ordinance, 2001 against all directors, after the investigation established that the directors of the hotel Islamabad, were involved in the offence of concealment of income and mis-declaration to tax authorities which are punishable offences under section 192 and 192A of Income tax ordinance, 2001.
Sources further report that the directors also maintained several benami accounts in the names of the employees of the company and were involved in money laundering by evading income tax. Directorate of I&I-IR Islamabad is likely to proceed against the directors under anti money laundering act, 2010.
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