LAHORE: Federal Board of Revenue (FBR) team on Thursday raided M/s Nadeem Industries which is located near Shalimar Bagh.
Sources told Customs Today, that during the raid FBR team seized all the available record which includes laptops, cheque books, computer accessories and other purchase record of the company. Sources told that during the scrutiny of tax returns it was revealed that company is involved in huge taxes and duties evasion. It was come into the notice of tax authorities that company is willfully avoiding to pay duty and taxes pending against it.
It was also revealed that the above mentioned company is earning handsome revenue but avoiding to submit taxes. Sources told that Federal Board of Revenue team after seizing the entire record of the company started further investigations.
It is also necessary to mention here that Federal Board of Revenue expedited its efforts to recover outstanding taxes from defaulter companies. Sources told that in this regard Federal Board of Revenue adopted a comprehensive strategy to recover the outstanding amount from the companies. Due to this policy there is marginable increase is being witnessed in recoveries.
