Thousands of private schools, colleges and academies served with FBR notices
ISLAMABAD - The Federal Board of Revenue (FBR) has issued notices to the private schools, colleges, and tuition centers in Karachi. As much as 6,324 private educational institutions have been sent notices to get themselves registered with the board.
The FBR has maintained that despite earning huge income, many private institutions have not registered with the board. The board has also obtained information about the boards of secondary and intermediate education. ------------------------------
The revenue authority has revealed that it is also in contact with the All Private Schools Association (APSA) to broaden its tax base.
Earlier, the FBR had sought information from the provincial education departments and private education associations to gather data on the schools and colleges. The board said that schools are withholding tax agents and they are supposed to collect advance tax from people paying fees above Rs. 200,000 a year.
The board aims to identify the taxpayers who pay a hefty amount of fee every year by bringing educational institutes into the tax net.