FBR serves notice to ARY News for evading millions in tax

Federal Board of Revenue demanded a tax of Rs992 million on hiding an offshore entity.

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  • ARY has been served a notice by FBR on misrepresenting facts to avoid millions of tax.

  • Federal Board of Revenue demanded a tax of Rs992 million on hiding an offshore entity.

  • ARY is unable to clear its stance on meddling with the official agreement statements.

  • “Other consequential proceedings of penalty and prosecution will be initiated separately”: FBR.

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ARY, a Pakistani private channel, has received a notice from the Federal Board of Revenue and demanded a tax of Rs992 million. ARY is being charged with invading millions of taxes through misinterpretation, secretion, and embezzlement of immunity and cause a huge loss to the national finances.

According to the FBR sources, the order was issued on 30 June 2019. After that, they were contacted by the representatives of ARY and exchanged information that yanked for many weeks in which media house could not clear the charges and were unable to properly explain their stance on misrepresenting facts of income tax to avoid the return of millions of tax.

FBR further states that ARY meddled with the official agreement documents the one they previously submitted, to avoid the tax demand which was found by FBR during the interaction between the two FBR and ARY communication limited.

The notice from the Federal Board of Revenue says, “Other consequential proceedings of penalty and prosecution will be initiated separately.”

In replies to the allegations, ARY accused FBR that proceedings were based on assumptions and guesswork still ARY is unable to reply and clear their act on meddling with the documents.

An offshore company that is co-owned entity ARY FZLLC accepted transactions with the other two companies, ARY COMM, and ARY Films and TV Productions Pvt, which according to section 85 of income tax ordinance, 2001, were its partners, said the FBR report.

The media house claims to export the content, which was locally produced to the off-shore company in order to escape local taxes.

When ARY representatives were contacted, they denied and said they did not know anything about receiving tax notice by the FBR.


Also See: FBR To Launch The Mobile App To Ease The Filing Of E-Returns

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