ANL 14.43 Decreased By ▼ -0.32 (-2.17%)
ASC 13.99 Decreased By ▼ -0.01 (-0.07%)
ASL 15.08 Decreased By ▼ -0.02 (-0.13%)
BOP 8.47 Decreased By ▼ -0.13 (-1.51%)
BYCO 6.60 Decreased By ▼ -0.09 (-1.35%)
FCCL 18.99 Increased By ▲ 0.19 (1.01%)
FFBL 26.70 Increased By ▲ 0.20 (0.75%)
FFL 11.16 Decreased By ▼ -0.03 (-0.27%)
FNEL 10.68 Decreased By ▼ -0.21 (-1.93%)
GGGL 15.90 Increased By ▲ 0.20 (1.27%)
GGL 31.80 Decreased By ▼ -0.31 (-0.97%)
HUMNL 6.27 Decreased By ▼ -0.08 (-1.26%)
JSCL 16.99 Decreased By ▼ -0.27 (-1.56%)
KAPCO 33.34 Increased By ▲ 0.09 (0.27%)
KEL 3.29 Increased By ▲ 0.06 (1.86%)
MDTL 2.36 Increased By ▲ 0.09 (3.96%)
MLCF 37.44 Increased By ▲ 0.99 (2.72%)
NETSOL 103.26 Increased By ▲ 1.10 (1.08%)
PACE 4.81 Increased By ▲ 0.41 (9.32%)
PAEL 23.23 Decreased By ▼ -0.32 (-1.36%)
PIBTL 7.85 Increased By ▲ 0.15 (1.95%)
POWER 7.05 Increased By ▲ 0.29 (4.29%)
PRL 13.83 Decreased By ▼ -0.10 (-0.72%)
PTC 8.90 Decreased By ▼ -0.17 (-1.87%)
SILK 1.30 Decreased By ▼ -0.05 (-3.7%)
SNGP 41.85 Increased By ▲ 0.05 (0.12%)
TELE 17.09 Increased By ▲ 0.16 (0.95%)
TRG 88.90 Decreased By ▼ -1.61 (-1.78%)
UNITY 25.42 Increased By ▲ 0.12 (0.47%)
WTL 2.17 Increased By ▲ 0.02 (0.93%)
BR100 4,673 Increased By ▲ 7.7 (0.17%)
BR30 18,918 Increased By ▲ 244.01 (1.31%)
KSE100 45,340 Increased By ▲ 267.21 (0.59%)
KSE30 17,559 Increased By ▲ 129.51 (0.74%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,737
924hr
Pakistan Cases
1,285,254
41424hr
0.98% positivity
Sindh
475,820
Punjab
443,185
Balochistan
33,484
Islamabad
107,722
KPK
180,075

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed Chief Commissioner Inland Revenue, Lahore and other officials to submit a report on the alleged negligence of not taxing the assets/income of former Prime Minister Nawaz Sharif and his family members.

It is reliably learnt that the FTO office has directed the Revenue Division Secretary and Chief Commissioner-IR, Lahore to submit a written reply by November 1, 2021 to the allegations contained in a public interest complaint lodged by a Lahore-based lawyer, Waheed Shahzad Butt, against present and former Chairman FBR, Chief Commissioner IR, Commissioner IR, and others.

According to details, tax lawyer Waheed Butt had filed a plea against tax employees of Revenue Division under section 2(3)(i)(d) & 2(3)(ii) of the FTO Ordinance for not taxing assets/income of former Prime Minister & his family members.

'Inflated' tax notices to Shehbaz, late Kulsoom: FBR given last opportunity to furnish proof

FTO notices stated, "The tax codes of Pakistan, like other laws of the world, contain specific provisions aimed at countering "tax evasion".

The expression "tax evasion" under section 109(2) is defined exclusively (meaning by no other meaning can be assigned to it) as "any transaction where one of the main purposes of a person in entering into the transaction is the avoidance or reduction of any person's liability to tax under this Ordinance".

Copyright Business Recorder, 2021

We love hearing your feedback, please help us improve by answering these few survey questions

Comments

Comments are closed.