ISLAMABAD: The Federal Bureau of Revenue (FBR) has been monitoring startups appearing on Shark Tank Pakistan and has sent notices regarding the tax collection.
Taking to social media, a tech entrepreneur and Telemart owner, Ahmed Rauf Essa, wrote, “FBR is closely monitoring all episodes of Shark Tank Pakistan as expected. As I predicted earlier, startups that pitched on Shark Tank Pakistan are now facing challenges.”
“Unlike businesses like ours, which declare 100% of their numbers to the FBR to avoid complications, many startups reportedly disclose less than 20%.”
Essa alleged that several of these startups have already received FBR notices and have ongoing cases, adding that “I’m certain more notices will follow soon.”
Last month, Pakistan launched a business reality television series, Shark Tank Pakistan, which aims to elevate the country’s entrepreneurial capabilities to a global level through the content studio “Greenlit,” which will be starting the program in the country.
The panel of investors in the reality show, known as “sharks,” includes notable figures such as Faisal Aftab, Rabeel Warraich, Romanna Dada, Junaid Iqbal, and Usman Bashir, all of whom bring diverse expertise to support entrepreneurs in scaling their ventures.
