Billions in Tax Fraud Discovered In Raid On Housing Scheme: PRA

News Desk

Rawalpindi: The Punjab Revenue Authority (PRA) Rawalpindi Commissionerate on Wednesday conducted a raid at Eighteen Housing Scheme, a well-known project located in Rawalpindi, and uncovered a significant case of tax evasion worth billions of rupees.

According to the documents available with Penpk.com, the Eighteen Housing Scheme is a mega project spanning over 600 acres, featuring 976 apartments, 1068 villas ranging from 0.5 to 8 kanals in size, as well as a five-star hotel, a golf club, and various other extensive amenities.

According to a PRA spokesperson, after a thorough investigation that revealed instances of tax embezzlement, a team of enforcement officers was assigned the task of raiding the Rawalpindi office of the Eighteen Housing Scheme and confiscating relevant tax records.

The team members responsible for this operation were Sobia Anum, Arsalan Tariq, and Adeel Ahsan, acting under the instructions of Commissioner and Additional Commissioner Tauqeer Ahmed of PRA Rawalpindi.

During the preliminary examination of the seized records, it was determined that tax evasion and tax fraud totaling Rs9 billion had occurred. The housing scheme was promptly served with a show cause notice, which included not only the identified tax evasion but also imposed a 100 per cent penalty. The scheme is required to deposit this amount into the PRA account within the specified timeframe.

A formal investigation into the matter has been launched, and upon its completion, legal proceedings related to tax evasion and fraud will be initiated against the Eighteen Housing Scheme as well as any individuals involved in this wrongdoing.