FBR takes action against Ittefaq Iron Industries on tax evasion
Last updated on: 16 December,2020 04:41 am
A case of tax fraud of Rs 176 million has been registered against Ittefaq Iron Industries.
ISLAMABAD (Dunya News) - The Federal Board of Revenue (FBR) has taken action against Ittefaq Iron Industries for evading tax, Dunya News reported on Monday.
According to sources, a case of tax fraud of Rs 176 million has been registered against Ittefaq Iron Industries. Two employees including the chief financial officer (CFO) of Ittefaq Iron Industries have also been arrested.
Raids are also being conducted to arrest Chief Executive Officer (CEO) and five directors of the company. Sources revealed that the company has twice taken input tax adjustment on imported goods.
The Federal Board of Revenue sources said that the accused were arrested on the basis of solid evidence.