LAHORE: Federal Board of Revenue (FBR) has started the investigations against 11 commercial importers who misused the Statuary Regularity Order SRO 1125.
As per details, the Federal Board of Revenue (FBR) started investigations against eleven registered commercial importers who deliberately misused the Statuary Regularity Order SRO 1125 which was issued in 2011.
Sources told Customs Today that Rs550 million sales tax fraud unearthed in the same case and after the detailed investigations more details will be surfaced.
The commercial importers misused the Statuary Regularity Order SRO 1125 and got exemption by showing themselves as manufacture instead of commercial importer.
As per Statuary Regularity Order SRO 1125, only manufacturers can avail exemption benefits of SRO but eleven importers misused SRO and availed the benefits.
