Morpheus
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FBR unearths tax evasion of Rs 4.36bn
The Federal Board of Revenue (FBR) ha unearth a tax evasion of Rs. 4.36 billion during a raid on a food manufacturing unit.
Under the direction of the Federal Board of Revenue (FBR), all field offices are working to prevent tax evasion and tax fraud and are continuing operations. In this regard, Director Intelligence and Investigation IR Lahore has raided a food manufacturing unit and caught a case of tax evasion and tax fraud.
After scrutiny of the records of the registered manufacturing unit located in Lahore, it was found that the registered unit hid its actual production and sales by committing tax fraud and evaded the due sales tax of Rs. 4.36 billion.
Under Section (37) 2 of the Sales Tax Act, 1990, not only Rs 4.36 billion is owed to the manufacturing unit in terms of sales tax but also a default surcharge of Rs 2.45 billion and a penalty of Rs 4.36 billion.
The case has been forwarded to the field office for recovery of outstanding sales tax. Directorate of Intelligence and Investigation has stepped up operations to prevent and recover tax evasion and tax fraud.
https://www.brecorder.com/news/40013690/fbr-unearths-tax-evasion-of-rs-436bn
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- Director Intelligence and Investigation IR Lahore has raided a food manufacturing unit and caught a case of tax evasion and tax fraud.
The Federal Board of Revenue (FBR) ha unearth a tax evasion of Rs. 4.36 billion during a raid on a food manufacturing unit.
Under the direction of the Federal Board of Revenue (FBR), all field offices are working to prevent tax evasion and tax fraud and are continuing operations. In this regard, Director Intelligence and Investigation IR Lahore has raided a food manufacturing unit and caught a case of tax evasion and tax fraud.
After scrutiny of the records of the registered manufacturing unit located in Lahore, it was found that the registered unit hid its actual production and sales by committing tax fraud and evaded the due sales tax of Rs. 4.36 billion.
Under Section (37) 2 of the Sales Tax Act, 1990, not only Rs 4.36 billion is owed to the manufacturing unit in terms of sales tax but also a default surcharge of Rs 2.45 billion and a penalty of Rs 4.36 billion.
The case has been forwarded to the field office for recovery of outstanding sales tax. Directorate of Intelligence and Investigation has stepped up operations to prevent and recover tax evasion and tax fraud.
https://www.brecorder.com/news/40013690/fbr-unearths-tax-evasion-of-rs-436bn
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