FBR uncovers tax frauds amounting to Rs315m

The board has initiated an investigation pertaining to money laundering of over Rs1 billion

ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday unearthed two cases of tax fraud amounting to a total of Rs315million in Karachi and Multan and started investigating a case pertaining to over Rs1 billion in money laundering.

According to FBR officials the FBR chairman has issued directives to all the filed offices of the board to expedite operation against tax evasion and play an active role to stop the menace of fake and flying invoices.

The FBR Karachi Field Office in compliance with the chairman’s directives, took action against a fake business unit which was found involved in evasion of duties and taxes on imports. The said unit had also been issuing fake and flying invoices in the market due to which the buyers had claimed input adjustment and refunds. In total the unit is estimated to have caused Rs210 million in loss to the national exchequer. The principal accused in the case named Mubarak Khan has been arrested.

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Similarly, another case pertaining to tax evasion by means of fake and flying invoices amounting to Rs105 million was unearthed by the FBR Multan office.

Moreover, the FBR Karachi office has received a complaint of money laundering amounting to over Rs1 billion. The board has initiated an investigation regarding the issue.

The FBR has urged people to come forward and reveal the identity of those involved in tax evasion. The tax authority said that it will grant reward to such whistle blowers under its Reward Rules while keeping the name of the whistleblower hidden.

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Shahzad Paracha
The writer is a member of Pakistan Today's Islamabad bureau. He can be reached at [email protected]
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