ISLAMABAD: The Direct­orate of Intelligence and Investigation, Inland Revenue, has lodged a case against a Karachi-based businessman for tax evasion of Rs576.564 million.

A senior tax officer said that an FIR has been lodged against Usman Shahid under section 203 of Income Tax Ordinance read with section 3, 4 and 8 of the Anti-Money Laundering Act 2010.

The case was filed in the court of Special Judge Customs, Taxation and Anti-smuggling, Karachi. The I&I Department has launched investigation against tax evaders across the country under the money laundering act.

The tax evasion was worked out in a period of three years — Rs17.219m in 2014, Rs80.823m in 2015 and Rs478.521m in 2016.

He said that other amount will be added after determination of quantum/expenditure incurred on purchases for assets in the past four tax years.

According to the FIR, Mr Usman has been running a company named Southern Distributor and Southern Investment. According to the details, the taxpayer has knowingly and wilfully made offences of concealment of income, acquiring assets from proceeds of crime by committing predicate offence of tax evasion.

It was further alleged in the case that the taxpayer submitted inaccurate particulars to federal government in his income tax returns for 2011-12 up to 2015-16.

Mr Usman, according to the notice, has concealed his true revenue, turnover, income from government with intention of evading due tax.

It was further alleged that Mr Usman declared figures in the tax returns did not match with his actual figures when probed by the I&I Department.

According to the tax official, it is strange that a person who has not paid a single penny to federal government as an income has purchased six expensive properties in posh localities. “Its impact will be judged after determination of quantum expenditure incurred on these purchases of assets”, the tax official said.

Mr Usman, according to the case, has not filed the income tax returns for 2012-13. Similar, irregularities were detected in other tax returns.

Published in Dawn, August 3rd, 2017