ISLAMABAD: Details of the investigation into the Rs60 billion tax evasion by the cigarette industry has been forwarded by the Regional Board of the National Accountability Bureau (NAB) to its head-office for further investigation.
According to sources, the Regional Board in a meeting evaluated the case and concluded the matter should be forwarded for further scrutiny to NAB considering the enormity of the tax evasion by the tobacco sector, reports Express Tribune.
The Auditor General of Pakistan (AGP) office said the cigarette industry was involved in tax evasion to the tune of Rs33 billion and recently the government fired six members of the tax regulator who were accountable for this loss to the national exchequer and moved them to different ministries.
And the Federal Board of Revenue (FBR) was unable to attain its revenue target from the cigarette sector, which is a major provider to the public exchequer because of the introduction of third slab of federal excise duty (FED), which caused a revenue loss to the tune of Rs60 billion in last three years.
Also, the FBR chairman has apprised the special committee regarding the fall in tax payments from the cigarette industry.
Moreover, FBR chairman told the committee action has been initiated and removal of those responsible constituted part of it.
