[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]The top intelligence agency of the Federal Board of Revenue (FBR) has uncovered sales tax fraud amounting to billions of rupees in prominent sectors, including coal, oil, ghee, textile, paper and board, steel, lead, lead waste, and scrap.
The Directorate General of Intelligence and Investigation Inland Revenue (I&I-IR) has identified illegal adjustments of input tax totaling around Rs. 70 billion during the May-August 2023 four-month period. These actions have been carried out across major cities in the country, resulting in the arrest of over 30 individuals involved in tax fraud.
Read more : FBR Plans Audits For Retailers And Real Estate Taxpayers
Tax frauds have been observed in key sectors and industries, such as coal, iron/steel, textile, cotton ginning, lead waste and scrap, copper wire, textile, auto parts, and plastic goods manufacturers.
The Directorate has also apprehended tax lawyers and advisors who actively assisted fraudsters in committing tax fraud.
The Directorate General of I&I-IR has intensified its enforcement efforts against individuals engaged in these illicit activities to combat illegal input tax adjustments and the issuance of fake/flying invoices under the Sales Tax Act, 1990, aiming to create a fair environment for genuine taxpayers.[/vc_column_text][/vc_column][/vc_row]
