LAHORE: The Directorate of Customs Intelligence and Investigation claimed to have detected income tax and sale tax evasion and recovered Rs60 million from fraudulent companies.
According to officials reports, it was brought to the notice of DG Customs Intelligence Lutfullah Virk that two companies named Apex International and Liberty International got fraudulently registered under sale tax as manufacturing units and availed two per cent income tax and two per cent additional sale tax exemption on import of cloth from India.
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On the DG intelligence instructions, Director Customs Intelligence Mukarram Jah deputed Additional Director Asad Raza Rizvi and Deputy Director Rizwan Salabat to examine the case thoroughly in the light of SRO-1125.
On suspicion, Intelligence Officer Mian Muhammad Yasin conducted physical inspection of the units and detected tax evasion for not being manufacturing units and subsequently defaulting companies were served notices for immediate payment of tax evasion of Rs60 million. The directorate has moved two separate applications to the Lahore Customs Collector (Adjudication) for imposing heavy penalty on both fraudulent companies for concealing facts.
