KARACHI: Collectorate of Customs Exports at Port Muhammad Bin Qasim (PMBQ) detected tax evasion of Rs40.16 million by M/s Pro Textile during Export Facilitation Scheme (EFS) Audit
Sources said that Collector Saadia Sheeraz directed to conducted a detailed stock audit of the Export Oriented Unit (EOU) M/s Pro Textile.
The audit was conducted under the supervision of Additional Collector EFS Ghulam Hyder Mahesar and Deputy Collector EFS Muhammad Omer Latif.
M/s Pro Textile, Karachi, was granted an EOU License for duty-free importation of raw materials and machinery, intended solely for export purposes.
However, the audit detected that 45.5 MT of imported nylon mesh net fabric was missing from the premises and not used in exports.
The value of the missing goods was calculated at Rs82.13 million, with duties and taxes amounting to Rs41.65 million.
The Collectorate recovered the full amount from the licensee.
M/s Pro Textile misused the concessionary EOU regime, attempting to evade government revenue.
A contravention case has been registered for penal action under the relevant rules and laws.
