KARACHI: The Customs Export has recovered evaded amount of taxes and duties of Rs9.86million from defaulter companies on Tuesday, 20th of February, which had been earlier issued with notices to pay the outstanding dues.
Sources told Customs Today that, during scrutiny of the import data, it was revealed that M/s Reliance and Co availed undue benefits and concessions by importing different consignments after misusing the SRO 562 through Examiner Qayyum Shah. Sources told Customs Today that the company was allegedly involved in tax evasion of Rs7.28million.
After detecting the tax evasion, the Customs Export served on it a final notice on January 23, 2018 to deposit the evaded amount within 14 days.
After receiving the notice, the management of M/s Reliance and Co deposited the evaded amount in the official account of the Customs Export on 20th of February.
On the other hand, the management of the M/s Rana Nawaz and Sons also cleared Rs2.58million of taxes and duties. Sources told the correspondent that M/s Rana Nawaz and Sons also availed undue benefits and concessions and avoided paying taxes according to the customs bylaws.
The Customs Export authorities issued to it a final notice on January 16, 2018. After receiving the notice, the management of the M/s Rana Nawaz and Sons deposited the evaded amount of taxes.
