ISLAMABAD: The Directorate General of Customs Intelligence and Investigation detected tax evasion of Rs2478.568 million. A well reputed car manufacturing company M/s Honda Atlas Cars Pakistan Limited is involved in this scam.
According to details, the customs I&I detected a very significant case of tax evasion against M/s Honda Atlas Cars Pakistan Limited, which had been clearing imports of sub components, sub assemblies used in the manufacturing and assembling of automobiles on under invoiced values in as much as the component of “royalty” related to the import parts etc had not been included in the value declared to the customs.
The said company found involved in this practice since 2011. In this way, they caused revenue loss of approximately Rs2478.57 million, to the exchequers during the period 2011 to 2016.
Sources told Customs Today that after the preparations of contravention report by the Customs I&I, the contravention cases have been registered against the importer under the concerned provisions of the customs Act 1969.
