ISLAMABAD: The Directorate General of Intelligence and Investigation (I&I) of Inland Revenue has been empowered to gather information about suspicious financial transactions, including investment and expenses.
The Federal Board of Revenue (FBR) on Tuesday issued SRO 272(I)/2021 to authorized the directorate for making various activities to identify income tax evasion.
The functions of the Directorate-General of Intelligence and Investigation, Inland Revenue shall be:
— To carry out intelligence activities, access and verification of business premises, access to record/documents or system maintained therein, intelligence gathering on all tax related issues including under-reporting, tax evasion and revenue leakages.
— To collect information/record/documents from any person including taxpayer and third party-relating to financial transactions like investment and expenses etc. and details of persons who are involved in such activities.
— To process information and take necessary action on the basis of information provided by any other organization, agency or department under the relevant provisions of Income Tax Ordinance, 2001.
— To utilize the information obtained through establishment of linkages by the FBR with all major national, provincial other data bases to collect relevant information.
— To identify cases of income tax evasion and carry out inquiry, investigation, whichever is deemed fit, to retrieve the loss of revenue; to identify, investigate and prosecute cases of tax evasion and/or offences punishable under the Income Tax Ordinance, 2001 and the rules made thereunder.
— To share and disseminate actionable information and corroborating evidence, where required, through written reports or information reports or otherwise to authorities or officers in the headquarters and field formations of the FBR for further proceedings.
— To process, investigate and prosecute complaints of tax evasion.
— To process, investigate and prosecute information shared by other agencies.
— To carry out any other work or function that may be assigned to it by the FBR.
