KARACHI: The Appraising Intelligence Branch (AIB) of Model Customs Collectorate of Appraisement-West has raised millions of rupees demand against ZA Pharma for its alleged involvement in tax evasion through misusing of SRO 551(I)/2008 in terms of customs duty, sales tax and income tax.
The AIB sources informed Customs Today that the action has been taken in the light of a crackdown ordered by MCC-Appraisement-West Collector Muhammad Saleem against the importers of pharmaceutical raw material who are misusing SRO 551(I)/2008.
Sources said that the goods declarations of the ZA Pharma are being re-assessed.
The Research and Development (R&D) Section of MCC Appraisement-East has already made contravention report against ZA Pharma after establishing tax evasion by misusing SRO567 (I)/2006 and SRO551 (I)/2008 and reduced rate of income tax by claiming the status of “Industrial undertaking”, sources said.
According to the R&D Section, the ZA Pharma was involved in tax evasion of Rs 40.5 million.
The R&D Section under the leadership of Collector Najeebur Rehman Abbasi had already recovered evaded tax amount of Rs 14.9 million. However; the section is yet to recover Rs 25.6 million.
