Industry

FBR Detects Sales Tax Fraud of Billions of Rupees in Various Sectors

The Federal Board of Revenue’s (FBR) top intelligence agency has unearthed sales tax fraud to the tune of billions in leading sectors including coal, oil and ghee, textile, paper and board, steel, lead, lead waste, and scrap.

Directorate General Intelligence and Investigation Inland Revenue (landI-IR) has detected illegal adjustments of input tax of approximately Rs. 70 billion during the four-month period of May-August 2023. The action has been taken in all major cities of the country and over 30 individuals involved in tax fraud have been arrested.

Tax frauds have been witnessed in some of the major sectors and industries including coal, iron/steel, textile, cotton ginner, lead waste and scrap, copper wire, textile, auto parts, and manufacturers of plastic goods.

The Directorate has also arrested those tax lawyers and advisers who were actively involved in facilitating the fraudsters in committing tax fraud.

Directorate General of landI-IR has intensified the enforcement drive against fraudsters involved in such criminal activities to curb the menace of illegal input tax adjustment and issuance of fake/flying invoices under the Sales Tax Act, 1990, and to provide a level playing field to the genuine taxpayers.

Source: Pro Pakistani