Research firm exposes Rs 956 bln annual tax evasion in Pakistan

KARACHI: A global market research firm in its recent survey report disclosed staggering 956 billion rupees tax evasion in Pakistan, ARY News reported on Wednesday.

Ipsos, the third largest market research firm in the world, has made the sensational disclosure after its survey of five industrial sectors including real estate, tea, cigarette, tyres, oil and pharmaceutical sectors.

The research report pointed out massive 500 billion rupees tax evasion in a year in the real estate sector of the economy.

Tax theft by cigarette traders is causing Pakistan a loss of Rs240 billion annually.

The research report pointed out annually 45 billion tax evasion in tea business and 65 billion tax theft in pharmaceutical sector of the national economy.

Moreover, tyres and oil sector inflicting 106 billion rupees revenue losses to the national economy annually, according to the report.