RTO creates tax demand of Rs26m against housing society

LAHORE: The Regional Tax Office (RTO) Lahore has created a tax demand of Rs26 million against a private housing society, said sources.

The tax demand was raised after a thorough audit of four tax years, they added. According to sources, the RTO Lahore raised a tax demand of Rs12.267 million for the tax year 2017, followed by Rs1.83 million for 2018, Rs5.844 million for 2019 and Rs6.135 million for the tax year 2020.

The sources said the RTO officials have issued notice to the housing society, giving a period of one month for payment of the tax. The office would impose fine in case of non-compliance within due period, the notice added.

It may be noted that raising tax demands has become a routine practice in the field formations of the Federal Board of Revenue (FBR). Presidents of various chambers of commerce & industry as well chairman of different associations have already brought it to the notice of the Federal Tax Ombudsman (FTO) the ongoing practice of creating fake demands to collects taxes coercively by the field formations of the Board about two weeks earlier. They have pointed out that this practice has become a routine matter over the last two years.

Copyright Business Recorder, 2022