KARACHI: Directorate of Intelligence & Investigation (IRS) as part of a campaign to bracket high net-worth individuals into tax net and plug revenue leakage raided National Medical Center Karachi and confiscated part of accounts and records under section 175 of Income Tax Ordinance 2002.
Director Saifullah Khan Niazi formed a team comprising Deputy Directors Imran Qadeer, Jamil Brohi and Mohammad Arif and staff, which faced severe resistance from the hospital management and staff and only part of the records could be grabbed.
The Inland Revenue team, through the initial perusal of records, has detected income tax evasion of over Rs50 million. It has been transpired that the National Medical Center (NMC) management was under-stating their revenues and profits to evade income tax.
It was found that the hospital management was mis-declaring the fee money received from patients to be much less than the actual and were evading legitimate government revenue. Directorate of Intelligence & Investigation (IRS) has finalized a Reference under Section 203 of the Ordinance against National Medical Center (NMC) Karachi.
The Federal Board of Revenue (FBR) is tightening the noose around the necks of high net-worth individuals, who have been maintaining parallel books of accounts and evading government’s legitimate revenue.
On the directives of Director General I&I Khawaja Tanvir, Directorate General is investigating the assets of individuals in order to assess the incomes concealed by them and to bring their hidden wealth under the tax net eventually.
Formations throughout Pakistan have been advised to furnish updated information regarding high net-worth individuals including doctors, sportsmen, fashion designers, professionals, politicians, frequent travelers and owners of luxury vehicles to identify any wealth concealment or evasion.
The process of profiling is on and data is thoroughly examined for appropriate action, which may include lodging of FIRs and arrests.
It may be recalled that meeting between Chairman FBR Nisar Mohammad Khan, Member IR-Operations Dr. Irshad and DG Khawaja Tanvir setup a plan to bracket high net worth individuals.
The National Medical Centre is fully equipped 200 Bed facility with the latest technology to make it a benchmark hospital in healthcare standards.