The Federal Board of Revenue (FBR) has uncovered a tax evasion scheme involving fake and flying invoices, amounting to Rs68.779 billion by just one company.
As per a media report, this racket was being operated with the nexus of persons belonging to different cities with the help of one official of FBR’s subsidiary, Pakistan Revenue Authority Limited (PRAL) in Islamabad, who was allegedly found involved in manipulating an inactive taxpayer unit Z.A. Impex, by illicitly obtaining the PIN/Password of a dormant unit.
The culprit also altered the original cell number in the data temporarily, replacing it with a new number linked to Yasir Latif, a Facilitation Officer posted at the PRAL Help Line Centre in Islamabad.
The FBR’s Intelligence and Investigation (I&I), Inland Revenue, Karachi team led the inquiry, which eventually led to the apprehension of Yasir Latif.
According to the investigation, a firm known as M/S Z.A. Impex, owned by Ghulam Umer, was allegedly responsible for filing false sales tax returns and issuing counterfeit sales tax invoices.
As per official records, the company registered for income tax purposes on January 1, 2003, and for sales tax purposes since May 22, 2007, claimed to be involved in manufacturing, spinning, weaving, and finishing textiles. However, discrepancies were noted, including a start date for the business in June 2022 and dubious bank account details.
A preliminary examination of the company’s sales tax returns showed null returns filed, indicating no business transactions from July 2016 to June 2022.
The investigation revealed that the listed address was a residential location, which had been closed for the past six months. Even Ghulam Umer was unknown to neighbors.
Consequently, the CTO Karachi suspended the Sales Tax Registration of the company as of May 12, 2023.
Sales data from the PRAL showed that the company reported substantial sales of Rs68.721 billion, declaring an output tax of Rs11.682 billion against purchases of Rs16.641 billion, with an input tax of Rs2.829 billion.
An intriguing aspect of the case was the issuance of nine credit notes totaling Rs44.507 billion, involving sales tax of Rs7.566 billion by the company.
It was revealed that the company claimed purchases worth Rs16.641 billion with input tax from three different registration suppliers who, during the same period, had not declared any sales to the accused company.
excellent work by FBR. the team should be duly rewarded.
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