ISLAMABAD: The Federal Board of Revenue (FBR) has taken another step to curb tax theft and deployed special teams to monitor sugar mills across the country.
The FBR spokesperson said in a statement that field formation teams have been deployed in sugar mills across the country. The statement read that sugar was one of the notified commodities being monitored by the state.
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The authorities used to monitor sugar production, sales, clearance, stock and other activities at the mills, whereas, the tax stamp was mandatory on each sack.
The violation of tax stamp printing could lead to the seizure of entire stock and three-year imprisonment for the defaulter, it added.
The bureau said that any attempt of sales tax theft on sugar would be dealt with iron hands and cases would be lodged against those mill owners who were found involved in sugar theft.
In another development today, the Federal Board of Revenue (FBR) has decided to launch an investigation into the income tax records of the country’s powerful segment, including industrialists and lawyers.
The decision was taken as negotiations between the International Monetary Fund (IMF) technical team and Task Force on tax and FBR reforms were underway.
IMF technical experts were collaborating with FBR tax officials, engaging in extensive discussions and analysis based on data from FBR subsidiary PRAL.
Sources told that the Board would probe the income tax records of the country’s powerful segment and was actively collecting data on members associated with powerful entities such as industrialists, lawyers, and doctors associations.
The investigation involves scrutinising identity card numbers and verifying mobile numbers of members within these major associations.
The income tax probe aims to leverage data from Pakistan Revenue Automation Ltd (PRAL) and the National Database and Registration Authority (NADRA) for an in-depth examination, in a bid to bring the powerful segment into the tax net.
