KARACHI: The Customs Export recovered evaded amount of taxes and duties of Rs 9.14 million from two companies i.e. M/s M M Ali Enterprises and M/s Imam Associates.
Sources told Customs Today that during scrutiny of the import data, it was revealed that M/s M M Ali Enterprises availed undue benefits and concessions by importing PVC type hard pipes and floor tiles by misusing the SRO 552 through Examiner Mumtaz Aiwan on October 12, 2017.
Sources said that the company was allegedly involved in tax evasion of Rs 5.47 million. Investigation was started after detecting the tax evasion and the Customs Export issued a final notice on May 24, 2018 to deposit the evaded amount within 14 days.
After receiving the notice, the management of M/s M M Ali Enterprises deposited the evaded amount in the official account of the Customs Export on June 11, 2018.
While the management of M/s Imam Associates also cleared Rs 3.67 million of taxes and duties. Sources said that M/s Imam Associates also availed undue benefits and concessions and avoided paying taxes according to the customs bylaws.
The Customs Export authorities served notice on 28th May. The management of M/s Imam Associates deposited the evaded amount of taxes on 11th June.
