FBR disclosed several tax evasion cases in Hyderabad and Multan. Besides these, some businesses also failed to disclose their actual income.
According to the recent FBR press statement, the Hyderabad Directorate of Intelligence & Investigation (Inland Revenue) received credible information that a business entity manufacturing pulp, paper, and paperboard had consumed electricity worth PKR 74,961,695 during the tax year 2019. But, it had declared the total sales for the said tax year of just PKR 176,944,121. This does not correspond with the claim of electricity consumption by the company.
A team of the directorate visited the premises of the concerned business in SITE, Kotri, and examined the available data and records. From initial scrutiny of the records, the team found a mismatch of PKR 500 million in the statements.
It’s reported that an inquiry has been initiated after taking possession of necessary records.
Similarly, the Multan Directorate of Intelligence & Investigation raided a manufacturing unit that was not even registered with sales tax. The initial findings have recorded a tax evasion of PKR 30 million.
In another report, a senior auditor was found guilty of fraudster activities worth millions of rupees.