ISLAMABAD: In a bid to comply with FATF requirements vis-a-vis money laundering, the Federal Board of Revenue (FBR) has launched a countrywide fresh campaign against tax evaders and money launderers.
The board also filed three complaints before special judge on charges of money- laundering.
Following the directions of the FBR chairman, the Directorate General of Intelligence and Investigation-IR launched a fresh campaign, under newly appointed Director General Dr Bashir Ullah Khan across the country. Accordingly, regional Directorates at Faisalabad, Multan, Peshawar and Islamabad conducted raids against fraudsters of different sectors.
The Hyderabad Directorate has also filed three complaints before the Court of Special Judge under Anti Money Laundering Act, 2010. These complaints are filed against Hikmat, Nafay and Hayat after compelte investigations.
Receipts in bank accounts of above-named persons are much high and unexplained as compared to their tax declarations. During the period 2014 to 2018, Hikmat declared receipts of Rs1.577 million and paid zero income tax while bank credits are amounting to Rs105,02.085 millions.
Furthermore, during the period 2014 to 2018 Nafay declared receipts of Rs3.391 million and paid zero income tax while bank credits are amounting to Rs6618.620 millions. On the other hand,during the period 2014 to 2018 Hayat declared receipts of Rs1.452 million and paid Rs51,000 income tax, however, bank credits are amounting to Rs1,966.614 millions.
The Faisalabad Directorate conducted raids against two unregistered persons of engineering sector that were engaged in taxable supplies without paying any sales tax in Sargodha. The names of units are Ashraf Engineering Works and Haider & Brothers Engineering Works. Scrutiny of impounded records is being carried out to ascertain the quantum of tax fraud.
The Multan Directorates has conducted raids on the premises of Malik Plastic Factory that was engaged in manufacturing and supplies of shopping bags and other plastic products without getting sales tax registration. The said business is paying electricity bills of 11.728 million in one year and making supplies of approximately 60 million without paying any sales tax.
The Peshawar Directorate impounded a huge number of illegal filter rods in Mardan during ongoing drive against counterfeit cigarettes. Evaded amount of Federal Excise Duty is expected in millions in the instant case.
The Islamabad Directorate has conducted raid on leading uniform brand i.e. M/s Saqib who, too, was engaged in taxable supplies without getting sales tax registration and paying any tax to the national kitty.