LAHORE: The Federal Board of Revenue (FBR) Regional Tax Office has seized records of Ismail’s, a famous clothing brand, as it has not got its sales tax registration thus evading tax liabilities for years, sources told Customs Today.
Sources said that the famous brand has been running at least 40 branches in various cities of the country while three branches are being run in Lahore in Panorama Center.
The sources said that on the instruction of chief commissioner RTO Waqar Ahmad, deputy commissioner Muhammad Imran and his team along with judicial magistrate Malik Shahid Hussain Awan, conducted a raid and seized more 20 computers and four laptops of the company at Industrial Estates Kot Lakhpat, Lahore.
The sources added that it is expected that more than Rs 10 million sales tax may be recovered in the result of the raid.
The sources said that if the brand owners voluntarily deposit their tax liability they may get some relief in the result or FIR will registered and the responsible will also be arrested.
