Connect with us

Latest News

In Karachi, the FBR discovers a Rs86 million tax evasion scheme.

Published

4 months ago

on

As per the statement provided by the FBR representative, the tax fraud that involved under-invoicing in a well-known cement firm was discovered by the FBR’s Intelligence and Investigation Wing.

Following an examination, it was discovered that the cement firm had attempted to use fictitious invoices to avoid paying sales tax of Rs86 million. The FBR’s I & I wing broadened its investigation following the swindle and was able to recover the amount of sales tax that had been avoided.

An extensive tax evasion scheme in the port city was discovered earlier this year by the Federal Board of Revenue’s (FBR) Post Clearance Audit team (PCA-North).
The inquiry showed that the products, valued at Rs 3.7 billion, were sold illegally for the Federally Administered Tribal Areas (FATA) and Provincially Administered Tribal Areas (PATA), ostensibly to avoid paying taxes.

Importantly, customs laws were broken by unlawfully distributing duty-free imported commodities outside of FATA and PATA’s defined borders.

Customs officers said that only the borders of the FATA and PATA regions may be used to sell duty-free imported goods.

Right away, a case was opened, and teams were assembled with the specific goal of capturing the owner of the company that was involved.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

The Prime Minister has announced a reduction in petroleum prices: light diesel will cost Rs 12 per litre, kerosene oil will cost Rs 11, and petrol will cost Rs 10.

Published

8 hours ago

on

By

The announcement of a significant decrease in petroleum prices by Prime Minister Muhammad Shehbaz Sharif is expected to alleviate the financial strain on customers.

The cost of a litre of gasoline will drop by ten rupees.

Prices for diesel and kerosene oil are expected to decrease by 13.6 and 11 rupees per litre, respectively.

In addition, the cost of a gallon of light diesel will decrease by 13 rupees.

This move is a component of the government’s continuous initiatives to lower living expenses and assist households all throughout the nation.

Continue Reading

Latest News

PPP Parliamentary Party Meeting: Bilawal Issues Party Policy Directives To Attendees

Published

9 hours ago

on

By

Political Organization in Islamabad.

Chairman Bilawal Bhutto Zardari was present, as was Member National Assembly Asifa Bhutto Zardari.

The meeting was attended by every member of the Pakistan People’s Party Senate and National Assembly.

Instructions about party policy were given to the attendees by the PPP Chairman.

Congratulating the attendees of the Democracy Day gathering was Bilawal Bhutto Zardari.

Continue Reading

Latest News

Constitutional Package: Chief of JUI-F and Government Delegation Talk About Constitutional Amendment

Published

9 hours ago

on

By

Maulana Fazlur Rehman, the head of Jamiat Ulema-e-Islam, met with a delegation of the high level government in Islamabad.

Participating in the meeting were Deputy Prime Minister Ishaq Dar, Minister of Law Azam Nazeer Tarar, and Minister of Interior Mohsin Raza Naqvi.

Aslam Ghori, Mir Usman Badini, and JUI Secretary General Maulana Abdul Ghafoor Haidari were present during the meeting.

Consultations regarding the proposed Constitutional Amendment were held by the government delegation.

Continue Reading

Trending