The Federal Board of Return (FBR) discovered tax fraud worth 977 million rupees carried out within the framework of the export facilitation regime (EFS).
According to the Director of Customs Post Clearance Audit (PCA) South, Shiraz Ahmed, two fraudulent companies abused EFS to escape taxes on the import of precious metal molds.
The companies would have imported 47 containers of high value metals, but manipulated files, declaring only 111 tonnes metric while 1,560 metric tonnes of imported goods have disappeared.
A company was revealed to have escaped 499 million rupees, while the second dodged Rs 478 million taxes.
A more in -depth investigation revealed that fraudulent companies were not even listed in the active FBR registration database, which raises concerns about regulatory gaps.
ACP South has issued an alert from all export collectors, warning them of an abusive potential use of the diet. Meanwhile, teams were trained to arrest the culprits, managed officials.
Earlier on January 9, the Directorate of Post-Addity Audit South Customs, under the Federal Board of Return (FBR), discovered an important money laundering operation of more than 106 billion rupees, disguised in imports of solar panels.
In the same month, the FBR also revealed a misappropriation of RS231.82 million following a two-month examination of the recording and transfer records of real estate properties by sub-registrars of the Faisalabad district.
