LAHORE: The Federal Board of Revenue (FBR) has finalized a list of 200 tax evaders and defaulters who are belonged to textile industry and are also functioning as cloth dealers.
Sources told Customs Today that during scrutiny of data it was revealed that some renowned textile dealers are found involved in duty and tax evasion. Sources told that at least Rs350 billion are outstanding against these defaulters while on the other hand they are earning in billions. Sources told that most of these defaulters belonged to textile industry of Faisalabad.
Sources told that after receiving credible reports FBR decided to conduct an inquiry to reach the actual culprits. After conclusion it was found that that some dealers are engaged in business of silk yarn, jute and doing business in Suttar Mandi, Mohammadi Market, Makki Market, Tata Bazar, Cloth Board and other business areas. Sources told that most of yarn and cotton dealers are earning in billions but avoiding to pay taxes willfully.
Sources told now Federal Board of Revenue issued them final notices to pay outstanding tax amount at the earliest failing which stern action will be taken against them which will led to seizure of their property and attachment of their bank accounts.
