KARACHI: Regional Directorate of Customs Intelligence and Investigation (I&I) have detected tax evasion involving M/s. Faisalabad Oil Refinery (Pvt) Limited and their clearing agent, M/s. Abdul Sattar & Sons.
Sources told that credible information received by Director Masood Ahmed, a team was formed under the supervision of Additional Director Afzaal Ahmed.
The team comprising Deputy Director Dr. Jahangir, Principal Appraiser Ali Ahmed Talpur, AOs Arif Qureshi, Tauseef Ahmed, Asif Javed and Intelligence Officer Sidra Gulzar.
The probe revealed that the company was importing and clearing machinery and equipment by falsely claiming exemptions on duties and taxes.
The consignment, which included Hopper Bottom Grain Storage Silos, was initially found to match the declared items upon examination.
However, further scrutiny of the Goods Declaration (GD) revealed that the importer had claimed an exemption under serial No. 2, part-1 of the 5th Schedule to the Customs Act, 1969.
This exemption is intended for machinery and equipment used in the development of grain handling and storage facilities, including silos, with a duty rate of 0 percent.
It was discovered that the goods in question were locally manufactured by M/s. Spleen Manufacturing (Pvt) Ltd., making the claimed exemption inadmissible.
As a result, the goods, valued at Rs88,379,173/-, and involving duty and taxes amounting to Rs29,333,313/-, were seized. The seized items have been placed under the custody of Terminal Operator M/s. QICT, Karachi.
A seizure report has been submitted for further action against M/s. Faisalabad Oil Refinery (Pvt) Limited and M/s. Abdul Sattar & Sons for their involvement in this tax evasion scheme.
