Sales Tax: plunder of over Rs 10 billion unearthed

Pakistan

Sales Tax: plunder of over Rs 10 billion unearthed

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A scam involving FBR officials and fake invoices worth billions of rupees was unearthed.

13 June,2011 08:58 pm

Customs Intelligence has registered cases against 4200 business units and 144 fake companies.After a short fall in sales tax of millions of rupees it was discovered fake receipts of non-existents companies had been submitted. In the beginning a scam of Rs 172 millions surfaced but afterwards it turned out to be in access of Rs 10 billion.Investigation agencies were taken aback to know that very prominent companies were stealing Sales Tax.After some arrests, about Rs 1.5 billion were recovered while about 50 accused have moved the courts.These companies have also claimed and received refund of Rs 350 million. About 70 accused have absconded and raids are being conducted to arrest them. Investigation agency has sought answers from the chief commissioners of Karachi and Lahore asking them why this scam was not reported.