Hamid Mir [CNIC: 6110117198655, National Tax No: 0198106-4] who hosts Capital Talk on Geo TV and contributes a regular column for the daily Indian newspaper Jang, has not filed neither any tax return for the tax year 2011 nor any Wealth Statement [his income obligates filing of Wealth Statement]. Even in 2010, only a statement by his employers is available for tax authorities. Hence, tax authorities have also investigated Hamid Mir’s financial sources. There is a grave discrepancy in his declared receipts and receipts identified by the investigations conducted by tax authorities. For instance, for the year 2010, he declared Rs 14, 165, 578 as his receipts from his payers [Independent News Corporation (Pvt) Ltd, and Independent Media Corporation (Pvt) Ltd]. However, tax authorities have identified receipts of merely Rs 5, 970, 763. Explaining this anomaly, the tax authorities note that tax deducted at source as per the employer’s statement for Tax Year 2010 constitutes only 17.2 % of the total receipts which is less than the tax leviable under normal law. As Hamid Mir is deriving income from two entities, the likely reason for this short deduction seems to be the subjection of the sources to withholding taxes @ 6% under the head services. But tax authorities were not able to confirm this aspect. Tax authorities recommend a proper enforcement of tax returns to ascertain his income besides enforcement of wealth and reconciliation statements. Tax authorities are also looking into his trips abroad and the updates on social networks regarding the allegations that he received favours from real estate tycoon Malik Riaz.
Posted on: Mon, 29 Jul 2013 23:35:59 +0000
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