LAHORE: The Federal Board of Revenue has asked for all the record of a paint distribution company MBI as it has been found in a huge tax evasion of Rs41million in two years.
According to Customs Today, the Federal Board of Revenue has written a letter to the Lahore Development Authority, Excise and NADRA to provide the record of the company. The FBR has asked for record of all the vehicles of the company.
It is pertinent to mention here that the FBR has also asked all the banks to freeze all the accounts of the company. Sources told Customs Today that the MBI distribution is a huge company with large revenues and distribution chains in Pakistan.
In another action, the FBR has attached the bank accounts of the Paramount Engineering Company. The company has been a defaulter of income tax from 2014 to 2016. Sources said that many notices were served on the company but it failed to submit its tax returns. Now the FBR has attached its bank accounts and recovered Rs485000. The bank account of Badami Bagh branch was frozen by the FBR.
Meanwhile in another action on Tuesday, the FBR has attached the bank account of a citizen Farzand Ali and also recovered Rs350000.
Inspector Waqar Haider and Muhammad Akram Haider conducted the action against Farzand Ali. Although he has different kinds of businesses yet he is not even registered with the FBR for income tax.
