LAHORE: The Federal Board of Revenue has issued a final notice to a famous and costly fashion brand Hassan Shehr Yar (HSY) on the tax evasion of Rs11million.
According to details available to Customs Today through reliable source, the Federal Board of Revenue has served a notice on the HSY to pay its due tax within 30 days otherwise strict action will be taken against the fashion brand. Sources said the HSY had been a defaulter of Sales Tax for the years of 2016 and 2017. The FBR had already issued several notices to HSY but no reply was submitted.
Meanwhile, the FBR froze the bank account of the Punjab Highways and recovered an amount of Rs4.5million. Sources told CT that the FBR had issued many notices to the Punjab Highways Department for the payment of Income Tax for 2015 but the management did not pay any attention to the notices.
In another action, the FBR has also recovered Rs4million from the bank account of the RT Max. FBR sources said the RT Max had been a defaulter of Rs10million. Cloth manufacturing company RT Max has not a good record for tax deposit.
The FBR had already confiscated all the sales and manufacturing record of the company. The RT Max is a defaulter of Rs10million as it didn’t pay the sales tax of the year 2016.
