Copyright pakobserver
LAHORE – The Federal Board of Revenue (FBR) has targeted the owner of a Lahore-based fintech over possessing undeclared luxury vehicles and discrepancies in the tax returns. The action is part of the FBR Lifestyle Monitoring Cell’s campaign against individuals whose lavish lifestyles on social media sharply contrast with the modest incomes they report in tax filings. Reports said the fintech company owner possesses 30 luxury vehicles worth approximately Rs 2.74 billion ($9.8 million). The vehicles include a Lamborghini Aventador and a Rolls Royce Phantom. None of these assets were initially declared in his tax returns. The agency noted that the total value of his vehicles alone is nearly a thousand times greater than the net assets he reported in 2019. While the executive has since deactivated his Instagram account, FBR sources confirm that the agency already has sufficient data to continue its investigation. The fintech owner has repeatedly amended his tax returns over the years, dramatically increasing his reported income and assets. For instance, his declared income for 2019 was initially Rs523,493, later revised to Rs3.4 million. In 2024, he reported zero income before adjusting it to Rs. 67.9 million, and in 2025, his revised income rose sharply to Rs. 181.14 million. Meanwhile, FBR investigators have also highlighted travel influencers and content creators who have visited numerous countries while reporting annual incomes as low as Rs442,000 ($1,580).
