KARACHI: Federal Board of Revenue (FBR) Inland Revenue’s Directorate of Intelligence and Investigation (I&I) Karachi has detected almost 20 defaulter companies which were not filing their income tax returns since long, besides finding other companies involved in receiving sales tax refunds on fake documents.
Sources said that I&I has started investigations against the defaulter companies and notices would be issued to them once levelled allegation proved true, while department was also listing the bogus and defaulter companies to recover the evaded amount.
Sources said that companies including Neelum Associates, Iqbal and Company, Irum Enterprises and others were reluctant to file the income tax returns to the department adding that I&I has asked them to submit the returns otherwise they will be dealt according to law.
On the revelations made by detained culprits involved in illegal business of fake sales tax invoices, IR-I&I was trying to trace the other fraudsters, they informed.
Sources said that Regional tax office (RTO) Karachi has also sent a report regarding the alleged companies involved in using fake sales tax invoices to FBR headquarter.
Defaulter companies those have allegedly recieved millions of rupees in guise of illegal input tax adjustment by using fake sales tax invoices are include Pioneer Enterprises, M.A Corporation, Ghazi Commodities Corporation, Friends Enterprises, A.A Dying and Bleaching, Nawab Weaving, Karwan Packages, Boot Tax, Zulfiqar Weaving, Yasin Silk Mills, A.K Corporation, Popular Board Private Limited, Sigma Enterprises, M.A Corporation, Home Textile and Processing, Mareena Traders, Alkaram Textile (Pvt) Ltd., Dewan Khalid Textiles Mills Ltd and others.
