Tuesday, 28 May 2024
Trending
FBR unearths massive tax evasion
Businesses

FBR unearths massive tax evasion

Collectorate of Customs Export, Port Muhammad Bin Qasim (PMBQ) has identified a massive tax evasion in the import of “rejected plastic rolls waste“.

According to media reports, a packing company has taken a NOC from the Karachi Export Processing Zone (KEPZ) authority for the import of a consignment, of “Rejected Plastic Rolls Waste Assorted sizes and Microns” for further processing.

As per the facts of the case, the clearing agent of the company has filed a Goods Declaration (GD) declaring thereby the description of goods as “Rejected Plastic Rolls Waste Assorted sizes and Microns” valued at US$ 3366.6.

When container landed and its transportation to the Export Processing Zone (EPZ), the collectorate had carried out a physical examination to verify the authenticity of the declaration made through GD that resulted in the recovery of CTCP Printing Plates assorted size instead of the goods declared in GD.

After physical examination was done, it was identified that the said company, an investor of KEPZ with the active connivance of their clearing agent have knowingly & willfully attempted to evade the chargeable duty & taxes to the tune of Rs9.459 million on the import of CTCP printing plate valuing US$97,161.6. An FIR has been lodged and further investigation is in process.

See also  Proposed Federal Development Budget

tax accounting services top tax consultants lahore pakistan
Ads:
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: