Major tax fraud unveiled at Karachi Export Processing Zone

KARACHI: Port Qasim Export Collectorate Tuesday exposed major tax fraud at Karachi Export Processing Zone, ARY News reported.

As per details, Sardar Enterprises was found guilty of tax evasion and smuggling at Karachi Export Processing Zone. According to Port Qasim Export Collectorate, the company was found guilty of evading taxes worth Rs825 million.

The company reportedly misused tax-exempted goods and illegally cleared used materials at local market rates.

Investigations revealed that under the guise of importing cotton, the company deceitfully imported 14,000 kilograms of industrial yarn.

A case has been lodged against Sardar Enterprises for tax evasion and smuggling, and specialized teams have been formed to apprehend the accused and their accomplices.

Read more: FBR unearths country’s biggest tax fraud worth Rs314 billion

Earlier, the Federal Board of Revenue (FBR) arrested four suspects who were involved in Rs11 billion tax invoices scam.

As per details, FBR foiled a gang of fake /flying sales tax invoice mafia and arrested four suspects allegedly involved in the scam.

The FBR stated that one accused was arrested when filing fake sales tax returns of various dummy firms from his house.

The second accused was arrested from PRAL Call Centre, Islamabad who was working as a facilitation officer at PRAL.

Furthermore, the FBR officials also recovered Rs1.6 billion fake output tax data from the accused official PRAL computer. All four accused belong to Karachi.