Tuesday, October 26, 2021

Sindh sugar mills come under FBR radar over massive tax evasion

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KARACHI: Sugars mills in the Sindh province have come under the radar of Federal Board of Revenue (FBR) for possible tax evasion, ARY NEWS reported.

An audit report into the tax collection from sugar mills in the province have revealed that they were involved in massive tax evasion, causing losses to the national exchequer. The report said that the mills were supplying more sugar to the market but showing less in their records.

The revenue authority acting on the report on Saturday decided to appoint eight FBR officials for overseeing the production and sales of sugar from the province-wide mills.

The tax officials were appointed after nod from the Chairman FBR Shabbar Zaidi and member operation of the authority.

On June 17, National Accountability Bureau (NAB) took three individuals under custody allegedly involved in Fake Accounts Case.

Those detained by the anti-graft watch dog namely include, Tando Kazim Ali who is being revealed as a finance manager of a sugar mill along with Faisal and AmanUllah.

Read More: Sindh to begin sugarcane crushing season from Nov 15

Embezzlement charges against Kazim revealed that approximately Rs.846 million were embezzled by the accused in collusion with the Omni Group.

Accused Faisal Nadeem has been revealed as the finance manager of Chamber Sugar Mills, sources within NAB confirmed.

Sources further claimed that the accused had acquired 400 million rupees from the Sindh Government through illegal documents.

Chief Minister Sindh Syed Murad Ali Shah has also faced NAB inquiry over giving subsidies to Thatta and Dadu sugar mills. The bureau alleged that Shah, in his capacity as Sindh finance minister, had given subsidies to certain mills including “closed” Thatta Sugar Mills and Dadu Sugar Mills.

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