ISLAMABAD: The Federal board of Revenue’s (FBR) Directorates of Intelligence and Investigation in Hyderabad and Multan have unearthed three tax evasion cases wherein business entities were involved in either hiding their actual income or were not registered.
According to an FBR press statement issued here, the Directorate of Intelligence & Investigation (Inland Revenue), Hyderabad received a credible information that a business entity of manufacturing of Pulp, Paper & Paper Board has claimed huge electricity expenditure amounting to Rs.74, 961,695 for the tax year 2019.
However, it had declared the total sales for the said tax year at Rs176, 944,121 only, which does not commensurate with the claim of consumption of electricity during the said year.
Consequently, a team of the Directorate, duly authorized, visited the premises of business concern in SITE, Kotri and examined the records and data available in the premises. From initial scrutiny of the records, it transpires that the taxpayer concern has suppressed sales of finished goods of Rs500 million approximately.
Inquiry has been initiated after taking possession of necessary records, the statement added.
Similarly, Directorate of Intelligence and Investigation Multan raided a Manufacturing Unit with the name Naqshband Foods which was not registered with sales tax, the statement said adding that after scrutiny of record, tax evasion of Rs30 million has been revealed.
The Enforcement Squad of the Directorate of Intelligence & Investigation (Inland Revenue), Hyderabad visited the premises of a cigarette distributor in Kunri, city of District Umer Kot.
During search of the premises, the team found large quantity of Cartons of cigarettes of different brands stored in the Godown of said premises for illegal sale.
The team found no genuine records regarding payment of applicable duties and taxes in respect of Cigarettes, lying in the Godown.
In the absence of such documentary evidences, the stock of 353 cartons of cigarettes involving the revenue of Rs7 million approximately has been taken into custody, the statement added.
