ISLAMABAD: The Federal board of Revenue’s (FBR) directorates of intelligence & investigation in Hyderabad and Multan have unearthed three tax evasion cases wherein business entities were involved in either hiding their actual income or were not registered.
According to an FBR press statement issued on Friday, the Hyderabad Directorate of Intelligence & Investigation (Inland Revenue) received credible information that a business entity manufacturing pulp, paper and paperboard had consumed electricity worth Rs74, 961,695 during the tax year 2019. However, it had declared the total sales for the said tax year at Rs176,944,121 only, which does not commensurate with the claim of consumption of electricity during the said year.
Consequently, a team of the directorate, duly authorized, visited the premises of concerned business in SITE, Kotri, and examined the available data and records. From initial scrutiny of the records, it transpired that the taxpayer had suppressed sales of finished goods of approximately Rs500 million.
Inquiry has been initiated after taking possession of necessary records, the statement read.
Similarly, the Multan Directorate of Intelligence & Investigation raided a manufacturing unit, M/S Naqshband Foods, which was not registered with sales tax. After scrutiny of the record, tax evasion of Rs30 million was revealed.
Moreover, the Enforcement Squad of the Hyderabad Inland Revenue visited the premises of a cigarette distributor in Kunri, Umerkot. During the search of the premises, the team found large cartons of cigarettes of different brands stored in the godowns for illegal sale.
The team found no genuine record regarding the payment of applicable duties and taxes in respect of cigarettes that had been stored.
The fruits of Democracy. Either win votes by allowing the looters to loot OR do the right thing & catch the evaders & face the looters on the streets.