A Case of Money Laundering in the Education Sector – Analysis of Operational Methodology
Keywords:
Money Laundering, Education Sector, Analysis, Operational MethodologyAbstract
For us in the taxation system, the first week of every quarter is always the busiest. Hordes of taxpayers storm the offices of Commissioners, Inland Revenue, for exemption certificates. These certificates are issued by the Commissioner after deposit of taxes in advance by the taxpayers for the whole year so that they wouldn’t have to pay withholding tax on any further transactions. It was on one such Monday morning of the first week of January when Maheen Hussain, Commissioner Inland Revenue (CIR), Corporate Regional Office Lahore, was exposed to the notorious world of money laundering.
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References
Income Tax Ordinance, 2001.
Convention Between Islamic Republic of Pakistan and the Republic of Mauritius for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (Double Taxation Treaty between Pakistan and Mauritius).
Mauritius Income Tax Act, 1995.
Mauritius Fiscal Guide, KPMG, 2017-18.
Ashley, Williams. “3 Stages of money laundering – How AML screening guards your business.” Shufti Pro, online blog, July 10, 2019.
Waseem Ahmad Qureshi, “An Overview of Money Laundering in Pakistan and Worldwide: Causes Methods, and Socioeconomic Effects,” University of Bologna Law Review 2, no. 2 (February 11, 2018).
