LAHORE: The Rawalpindi Commissionerate of Punjab Revenue Authority (PRA) has unearthed tax evasion worth billions of rupees in a raid at the office of a well-known private housing society.

According to details, the Eighteen Housing Scheme with a covered area over 600 acres with 976 apartments, 1068 villas of 0.5 to 8 kanals along with a five-star hotel, a golf club and other mega facilities was involved in tax evasion.

The enforcement officers of the Authority including Sobia Anum, Arsalan Tariq and Adeel Ahsan raided the Rawalpindi office of the hosing society and confiscated relevant tax record.

The preliminary probe has detected tax evasion/fraud worth Rs 9 billion. Accordingly, the Authority has imposed 100% penalty to the housing scheme through show cause notice, which is to be deposited in PRA account in due time.

Meanwhile, formal investigation has been launched and completion of the inquiry and proceedings under the law for tax evasion and fraud would be initiated against the responsible ones.

Copyright Business Recorder, 2023