FBR seizes 172 sugar bags without tax stamps

Tax department carrying out countrywide raids on sugar dealers to check compliance of TTS system

ISLAMABAD: The Federal Board of Revenue (FBR) on Sunday confiscated 172 sugar bags without tax stamps in a warehouse in Hyderabad.

As per details, the Inland Revenue Enforcement Network (IREN) squad of Directorate of Intelligence & Investigation (I&I), Hyderabad, seized the sugar bags foiling a major tax evasion attempt.

The IREN team had visited 12 warehouses to check stocks manufactured by various sugar mills during the current crushing season. The team found sugar bags manufactured by three sugar mills including Chambar Sugar Mills stocked in the premises Gulzar & Co.

The team seized the stock and initiated legal action against the manufacturers and dealer in accordance with the relevant provisions of law.

Article continues after this advertisement

It is pertinent to mention that IREN teams have conducted similar raids on sugar dealers in Lahore and Rawalpindi but did not find any violation as all sugar bags were properly stamped under TTS, a sign reflecting positively on tax compliance in the sugar sector.

Prime Minister Imran Khan had recently inaugurated the track and trace (TTS) system on November 23, expressing his resolve to ensure implementation of the system with full force to curb movement and supply of untaxed sugar in the country.


- Advertisement -


Please enter your comment!
Please enter your name here

- Advertisement -

Must Read

Senate committee to take up SBP Amendment Bill on January 27

The Senate Standing Committee on Finance and Revenue will take up the State Bank of Pakistan (SBP) Amendment Bill, 2021, on January 27, which...