FBR exposes tax evasion of Rs 4.36 billion in Lahore

LAHORE: The Federal Board of Revenue (FBR) haS unearthed tax evasion of Rs. 4.36 billion during a targeted operation on a food manufacturing unit in Lahore.

According to a statement issued by FBR, on the direction of the Federal Board of Revenue (FBR), a team led by Director Intelligence and Investigation IR Lahore conducted a raid at a food manufacturing unit and caught a case of tax evasion and tax fraud.

The statement further said after scrutiny of the records of the registered manufacturing unit, it was found that the registered unit hid its actual production and sales by committing tax fraud and evaded the due sales tax of Rs. 4.36 billion.

Under Section (37) 2 of the Sales Tax Act, 1990, not only Rs 4.36 billion is owed to the manufacturing unit in terms of sales tax and also a default surcharge of Rs 2.45 billion and a penalty of Rs 4.36 billion, it added.

The case has been forwarded to the field office for recovery of outstanding sales tax. Directorate of Intelligence and Investigation has stepped up operations to prevent and recover tax evasion and tax fraud.