LUBP presents a report by the Enforcement and Collection Division-V RTO, Karachi highlighting the ethical and moral position of our sacred cows in Pakistani media.
E&C DIVISION-V RTO, KARACHI – MEDIA CASES
Minimum Tax Liability / Shortfall – Position of Sales Tax Demand As on 04-05-2010
(Amount in Million Rs.)
||Name of Taxpayer
||M/s ARY Communications (Pvt) Ltd.
||ARY One, ARY Digital, ARY Zoq
||Installment granted to pay off reconciled amount @ Rs. 10 (m) per month
||M/s Airwaves Media Network (Pvt.) Ltd.
||TV One, News One, Waseb TV
||Commissioner (Appeal) disposed off appeal annulling order passed v/s 11(5). SCN issued afresh, to recover Rs.123.652(m). case fixed for 12.08.2010. taxpayer requested to adjust its pending refund claims of Income Tax of Rs.69 million ageist order v/s 11A. adjustment to be completed during the month of May after verifications.
||M/s Television Media Network (Pvt.) Ltd.
||Express News, Express English, Express Estt. Express Music
||O.P, filed before SHC, next data of hearing 07/05/2010.
||M/s 24 Seven Media Network (Pvt.) Ltd.
||Submitted reply and under reconciliation
||M/s. Jang Broadcasting Systems (Pvt.) Ltd
||Submitted reply and under reconciliation.
||M/s. Independent Music (SMC-Pvt.) Ltd.
||Data analyzed, for notice of minimum tax liability a/w SCN v/s 36(1) for Rs. 107.051 (m) due to mis-match of ST/IT Data. Under transfer to LTU over the point of jurisdiction.
||M/s Independent Media Corporation (Pvt.) Ltd.
||GEO TV/GEO News
||CP pending before Honourable Sindh High Court, next date of hearing 06.05.2010.
||M/s Dhoom TV Network
||Case remained un-complled, final opportunity accorded fixing next date of hearing
||Indus Entertainment (Pvt.) Ltd.
||O.P, filed before SHC, next date of hearing 11.05.2010.
||O.P, filed before SHC, next date of hearing 11.05.2010
||M/s. Gaaza Broadcast System (Pvt.) Ltd.
||Evasive compliance, final opportunity accorded fixing case for 12.05.2010
||M/s. Eye Television
||Hum TV / Masala TV
||Taxpayer intimated that jurisdiction rests with LTU/K – under transfer
|Demand u/s 11 & 11A
|Sales Tax Demand u/s 36(1)
|Default Surcharge to be calculated after reconciliation (Approx amount)
|Penalty being 100% of Demand u/s 122(5A) – (Action AU-DIV)
|Anticipated Income Tax Demand u/s 122(5A) – (Action AU-DIV)
|Gross Revenue Impact (Including demands u/s 11 & 11A
A story Pakistani media won’t tell