07:05
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ISLAMABAD: The Federal Board of Revenue’s (FBR) Intelligence and Investigation wing has issued eight red alerts in two days after suspicion of filing alleged fake invoices to obtain multimillion rupee refunds in just one specific Regional Taxpayer Office (RTO-1) Karachi, official documents showed.
The daylight robbery has touched new heights as RTO-1 Karachi had withdrawn the standard operating procedure on December 5, 2012 and then processed the refunds of around Rs100 million in different eight cases.
“We are actually in a war-like situation against the powerful mafia involved in getting alleged fake sales tax refunds at the cost of the national exchequer,” said a senior FBR official.
“Keeping silent at this stage is like extending a helping hand to those who are causing multibillion rupee losses to the country.”
“On December 7 and 10, 2012, the FBR’s Intelligence and Investigation wing issued eight red alerts in RTO-1 Karachi to block allegedly fake refunds,” stated the FBR’s official documents.
According to the documents, the Intelligence and Investigation wing issued red alert in case of eight companies, including Naveen Enterprises for processing alleged fake refunds worth Rs31.7 million, M/S Yarn Links Rs6.192 million, NK Textiles Rs5.150 million, M/S Zeenat Impex Rs6.2 million, M/S Hico Manufacturers Rs67 million, M/S HH Traders Rs5.4 million and M/S MH Textile Industry Rs5.6 million.
The Intelligence and Investigation wing observed that the integration of sales and income tax was not meant for the issuance of fake refunds but was to integrate taxes for controlling rampant tax evasion. Furthermore, it was also found that a business unit involved in the business of iron and steel does not even exist on its given address.
The daylight robbery has touched new heights as RTO-1 Karachi had withdrawn the standard operating procedure on December 5, 2012 and then processed the refunds of around Rs100 million in different eight cases.
“We are actually in a war-like situation against the powerful mafia involved in getting alleged fake sales tax refunds at the cost of the national exchequer,” said a senior FBR official.
“Keeping silent at this stage is like extending a helping hand to those who are causing multibillion rupee losses to the country.”
“On December 7 and 10, 2012, the FBR’s Intelligence and Investigation wing issued eight red alerts in RTO-1 Karachi to block allegedly fake refunds,” stated the FBR’s official documents.
According to the documents, the Intelligence and Investigation wing issued red alert in case of eight companies, including Naveen Enterprises for processing alleged fake refunds worth Rs31.7 million, M/S Yarn Links Rs6.192 million, NK Textiles Rs5.150 million, M/S Zeenat Impex Rs6.2 million, M/S Hico Manufacturers Rs67 million, M/S HH Traders Rs5.4 million and M/S MH Textile Industry Rs5.6 million.
The Intelligence and Investigation wing observed that the integration of sales and income tax was not meant for the issuance of fake refunds but was to integrate taxes for controlling rampant tax evasion. Furthermore, it was also found that a business unit involved in the business of iron and steel does not even exist on its given address.
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