RAWALPINDI: The officials of Federal Board of Revenue’s intelligence wing have raided the largest wholesaler of ladies and gents cloths in twin cities over alleged tax fraud.
The Directorate General of Intelligence and Investigation-Inland Revenue (IR) Islamabad conducted the raid on the godown of Grace Emporium in Kahuta Triangle Industrial Area, Islamabad with the help of police.
The raid was conducted under relevant provisions of the tax laws, empowering the agency to conduct raids in cases of tax evasion or frauds. The information collected by the agency disclosed that 15 undeclared bank accounts were used to evade the authorities. During the raid, computers record was taken in custody by the agency officials. The said unit is one of the largest wholesalers of ladies and gents cloth in Rawalpindi, Islamabad and allied cities.
Initial investigation showed that said unit has been accused of committing sales tax evasion. The owners were maintaining 15 undeclared bank accounts of foreign and local currency on the name of his brothers and relatives. The unit has suppressed its sales to the tune of millions of rupees.
