The Chief Financial Officer of a well-known battery company has been placed under arrest for his suspected involvement in a sales tax evasion scheme worth over Rs. 1 billion, according to FBR Spokesman Bakhtiar Muhammad.
According to the FBR spokesperson, the Chief Financial Officer of a significant textile company in Faisalabad was also detained for his alleged role in millions of rupees’ worth of sales tax fraud.
According to Bakhtiar Muhammad, the third suspect was detained for allegedly avoiding tax fraud totaling billions of rupees.
He claimed that when the court denied bail, suspects were taken into custody.
Details of Pakistan’s annual tax evasion were previously disclosed by Finance Minister Muhammad Aurangzeb on Thursday.
The minister disclosed that Pakistan’s yearly tax evasion revenue is close to Rs7,000 billion. According to him, efforts are being made to enlarge the tax base and restructure Pakistan’s tax structure.
The minister also declared a “war against tax evaders” in Pakistan and acknowledged that the nation’s salary class bears the brunt of tax burdens.
Additionally, Aurangzeb stated that the goal is to raise the economy’s tax contribution to 13.5 percent.
It should be mentioned that the FBR spokesperson previously stated that the organization is prepared to add over 2.8 million prospective homes to the tax system, which would generate an estimated Rs1.6 trillion in revenue for the country.
“Approximately 3.5 million high-income households are required to pay taxes to the government; however, 2.8 million of them do not pay taxes,” FBR Spokesperson Bakhtiar Muhammad said APP.
