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.
