[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]The Federal Board of Revenue (FBR) has placed the major clothes firms on its radar, and the renowned fashion designer has also been charged with tax evasion, according to ARY News on Thursday.
The whole fashion business has been placed on the FBR’s radar due to alleged significant tax evasion. FBR Intelligence Karachi has charged a well-known fashion designer with tax evasion.
The FBR’s intelligence department filed a First Information Report (FIR) against a well-known fashion designer, which ARY News received.
According to FBR intelligence sources, numerous major fashion firms were involved in sales tax evasion. According to sources, the fashion designers were inflicting significant losses to the national exchequer by employing forged sales tax invoices and smuggled clothing.
Also Read: Nishan-e-Haider Holders: The Courageous Heroes Of Pakistan
According to the FIR, the apparel designer reportedly concealed Rs140 million in sales tax in invoices referencing a Rs830 million sale. According to sources, several prominent apparel firms and fashion designers were complicit in the country’s bogus invoicing.
To combat tax evasion, the FBR intelligence indicated that crackdowns on well-known fashion designers would be launched in the following days. It was discovered that major brands were using smuggled cloth from Gilgit-Baltistan (GB) and other locations.
Following his detention, the renowned fashion designer was granted bail after posting surety bonds of Rs5 million, according to reports.[/vc_column_text][/vc_column][/vc_row]
