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Tag Archives: tax evasion

Tax evasion of Rs9.324m: Customs Court approves progress report against M/s MAJ Corporation & others

KARACHI: The Customs Court approved a progress report against Mohsin Ali Jalbani, owner of M/s MAJ Corporation and others, for commission of tax fraud by falsifying sales tax invoices amounting to Rs. 9.324 million. On 6 April 2021, investigation officer of Zone-IV, Regional Tax Office-I, Karachi submitted progress report and informed the court that a credible information received that M/s ... Read More »

Rs 64.17m tax evasion: FBR Intelligence prepares seizure reports against Telenor, Pak Telecom

KARACHI: The Directorate General of Intelligence and Investigation-FBR, Regional Office Karachi, has made a couple of seizure reports against some major importers and companies for mis-declaration of PCT, misuse of FTA and mis-declaration of description, quantity and value. The seizure cases have been made against M/s Telenor Pakistan (Pvt) Ltd and its clearing agent M/s Ahbab Enterprises (CHAL-2034) for mis-declaration ... Read More »

Customs Adjudication-I to hear tax evasion case against PTCL on March 19

KARACHI: The Collectorate of Customs Adjudication-I has fixed March 19 for the next hearing of tax evasion case linked with M/s Pakistan Telecommunication Company Limited (PTCL), its clearing agent M/s Eastern Freighter Services and its contractor M/s Huawei Technologies in its alleged involvement in mis-declaration/concealment in import of values and quantity in goods declaration (GD). It is pertinent to mention ... Read More »

Multan Customs detects tax evasion of Rs 1.543m by Ahmed Fine Textile Mills

MULTAN: The Model of Customs Collectorate (MCC) Multan has detected tax evasion of Rs 1.543 million by Ahmad Fine Textile Mills. Ahmad Fine Textile Mills Multan got the duty and tax remission (DTRE) approval under Rule 307-C of the DTRE Rules. It was allowed to import goods of polyester staple fiber of approved quantity (200,000kg) under the Pakistan Customs Tariff (PCT) ... Read More »

Inland Revenue arrests Ashiq Grinding Mills owner for evading tax

LAHORE: The Federal Board of Revenue (FBR) Inland Revenue (IR) has arrested the owner of a grinding mill involved in tax evasion of millions of rupees. According to Customs Today sources, a team of Inland Revenue on intelligence information raided and arrested the owner of Ashiq Grinding Mills. Mill owner Malik Khalid was reportedly not paying sales tax since 2007. The ... Read More »

RTO-I arrests steel factory owner on charges of tax evasion

LAHORE: The Federal Board of Revenue (FBR) Regional Tax Office-I (RTO-I) Lahore has arrested a factory owner allegedly involved in tax evasion of millions of rupees. Sources said that the owner of a steel factory located in Darogawala, Lahore, was involved in sales tax evasion of millions of rupees for many years. They added that the RTO-I Lahore Inland Revenue ... Read More »

Giant Danish mobile company purportedly involved in tax evasion

DENMARK: A huge telecommunications company of Denmark, Company 3 which is earning more than billions krones has been exposed through leaks that it has not ever paid a single penny of tax. It had been avoiding taxes through a parent company by using Luxembourg as a tax haven. By using companies in Luxembourg, 3 and other mobile companies were able ... Read More »

FBR challenges release of three sales tax defaulters in LHC

LAHORE: Federal Board of Revenue (FBR)  has moved the Lahore High Court (LHC) against three sales tax defaulters who were acquitted by the trial court. An Application has been submitted in The Lahore High Court by FBR against the release of three accused who were involved in tax evasion scandal. Director FBR Muhammad Azam has submitted an application in LHC ... Read More »

Violation of FTA, SROs: Appraisement-East detects tax evasion of Rs20m in 25 days

KARACHI: The Research and Development (R&D) Section of Model Customs Collectorate MCC Appraisement-East has detected and recovered around Rs20million of tax evasion in different means including violation of FTA, valuation guideline, exemption of undue SROs, incorrect values of PCT, mis-declaration of classification and valuation rulings till today. According to details, the R&D team under the supervision of Collector MCC Appraisement-East ... Read More »

Universal Gateway given one more week to submit reply in Rs 16m tax evasion case

ISLAMABAD: Universal Gateway Company allegedly charged for tax evasion of almost Rs 16 million has failed to answer the notice from Collector Custom Adjudication Seema Raza Bukhari. Representatives of Universal Gateway have asked for time to answer the notice to which Seema Raza has ordered them to submit answer within a week. According to Custom Intelligence and Investigation officers para-wise ... Read More »

FBR chief Bajwa asks DG Internal Audit, DG Valuation to improve performance

ISLAMABAD: Director General Internal Audit Karachi Rubina Wasti and Director General Valuation Karachi Sameera Nazeer met Federal Board of Revenue Chairman Tariq Bajwa at the FBR Head Office. Bajwa instructed both the officials to enhance performance of their respective departments. The FBR chairman also instructed Internal Audit director general to speed up the audit process of companies and individuals who ... Read More »

Corruption charges: Airbus offices in Germany raided

JEDDAH: German offices of Airbus Group NV (AIR)’s were searched as part of a query of bribery and tax evasion for its business in Romania and Saudi Arabia, which unveiled the corruption from Saudi Arabia too. The searches took place a few weeks ago, Thomas Steinkraus-Koch, spokesman for Munich prosecutors, said in an e-mailed statement today. The investigation started last ... Read More »

China slaps $140m fine on Microsoft

BEIJING: China has levied $140 million in back taxes from Microsoft in the first case concerning cross-border tax evasion in the country, as regulators ramp up pressure on U.S. corporations doing business there. According to an article published by China’s Xinhua official news agency , an unnamed U.S. multinational must pay the Chinese government 840 million yuan ($137 million) in ... Read More »

FBR to set up forensic labs to curb tax evasion

ISLAMABAD: The Federal Board of revenue (FBR) has decided to establish forensic laboratories to purge the country of tax evasion. According to details, initially the FBR would build two forensic laboratories at Lahore and Karachi directorates and later all directorates of the country would be equipped with state-of-the-art labs. The FBR has directed the chief executive officer of Pakistan Revenue Automation Limited ... Read More »

AIB verifies import data of glass mirror on Collector Saleem’s order

KARACHI: The Appraising Intelligence Branch (AIB) of Model Customs Collectorate of Appraisement (West) while following the directives of Collector Muhammad Saleem has started the verification process of the previous data of the clearance of the consignments of “Glass Mirror”, it was reliably learnt here. The sources informed Customs Today that the complaints had been pouring in the Office of Collector ... Read More »

Solar lighting system: Customs Tribunal reserves decision

KARACHI: A single bench of Custom Appellate Tribunal reserved judgment on Thursday in an appeal filed by an importer of solar lighting system against the imposition of duty and taxes on the import of parts and accessories meant to manufacture the complete unit. The appellant M/s Trade Serve is engaged in the installation of solar lighting system and has been ... Read More »

FBR issues special-audit notices to 4,000 units in Sialkot Region

SIALKOT: The Federal Board of Revenue (FBR) has issued special-audit notices to as many as 4,000 industrial units located in Sialkot, Narowal and Gujrat districts for their alleged involvement in tax evasion and concealing of facts. The FBR has formed 11 special teams in this regard. The teams have started the pre-audit process. According to FBR officials, the industrial units have been asked for special audit. The ... Read More »

Customs recovers Rs 20 million evaded thru mis-declaration

LAHORE: The Collectorate of Customs Appraisement unearthed and recovered millions of rupees tax evasion done in three cases of mis-declaration of steel sheets value. The Collectorate of Customs appraisement found duty and tax evasion of Rs 20 million in the cases. In first case, the Collectorate recovered Rs 10.7 million from OS Corporation. The accused was alleged of mis-declaration on steel ... Read More »

Govt urged to adopt uniform tax rate to generate revenue

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zakaria Usman has urged the government to adopt uniform 10 per cent tax rate on rental income to earn more revenue. He said that putting rental income under different tax slabs would encourage corruption and tax evasion, adding, “The tax slabs introduced during budget 2013-14 should be abolished immediately ... Read More »

Misbah ‘too poor’ to pay taxes

LAHORE: Two seized accounts of Pakistan cricket team captain Misbahul Haq does not have enough money to deduct taxes he owes to the Federal Bureau of Revenue (FBR), Customs Today learnt on Wednesday. They said the FBR froze the bank accounts of Misbah to deduct the unpaid taxes, but surprisingly one of the accounts has zero balance and the other carries a ... Read More »