LAHORE: The Federal Board of Revenue has asked for all the record of a paint distribution company MBI as it was found in a huge tax evasion of Rs41million since two years.
The FBR has written a letter to the Lahore Development Authority, Excise and NADRA to provide record of the company. The FBR has asked for all vehicles’ record of the company. In a letter written to the LDA, FBR has also demanded its property record in Lahore.
It is pertinent to mention here that the FBR has also asked all the banks to freeze all bank accounts of the company. Sources told Customs Today that the MBI distribution is a huge company with large revenues and distribution chains in Pakistan.
In another action, the FBR has attached the bank accounts of Paramount Engineering Company. The company has been defaulter of income tax from 2014 to 2016. Sources said that many notices were served on the company but it failed to submit its tax returns. The FBR recovered Rs485000 from the Badami Bagh branch after attaching its bank accounts.
Meanwhile in another action on Tuesday, the FBR has attached a bank account of a citizen Farzand Ali and has also recovered Rs350000. Farzand Ali has been also an income tax defaulter and not paying any tax despite earning millions of rupees.
Inspector Waqar Haider and Muhammad Akram Haider conducted this action against Farzand Ali. Sources said he has different kinds of businesses but is not even registered for income tax.
