KARACHI: The Federal Interior Ministry has asked the Federal Board of Revenue (FBR) and Security Exchange Commission of Pakistan (SECP) to provide at least five years monetary record of M/s Axact, it is learnt here.
The sources confirmed Customs Today that the Federal Ministry has asked the FBR and the SECP to produce five years’ tax submission statements of M/s Axact in the first phase of investigation.
The ministry further said that the FBR and SECP have started work to compile the taxes information of M/s Axact and will send it to the Ministry of Interior.
The sources further disclosed that the Chief Executive Officer (CEO) Shaoib Ahmed Shaikh of M/s Axact has submitted tax returns of Rs 22 in the fiscal year 2012-13 and Rs 26 in the year 2013-14 while zero tax has been filed by the M/s Axact CEO in the current fiscal year i.e. 2014-15.
Meanwhile, the Sindh Revenue Board (SRB) has also served notice against the CEO Shoaib Ahmed Shaikh of M/s Axact in short payment of revenue and duty/taxes.
The sources further informed this scribe that millions of rupees outstanding revenue recovery would be found against the CEO of M/s Axact while the FIA joint team comprised of Corporate Crime Cell and Cyber Crime Cell is also conducting investigation against the CEO of M/s Axact and other members of Board of Directors.
