KARACHI: Federal Board of Revenue (FBR) unearthed massive sales tax fraud of around Rs. 315 billion in Iron and steel sector.
The Regional Tax Office-1 has made a big headway in investigation of a massive sales tax fraud of around Rs. 315 billion in Iron and steel sector.
The fraud has been done under the aegis of Platinum International and KH Sons by masterminds Owais Ismail and Farhad. The RTO 1 has arrested the accomplices Shahzad and Faisal who are brother and cousin of the above masterminds. Maroof ur Rehman, a major accomplice, in the fraud has also been arrested.
All the accused were presented before the Special Court of Customs, Taxation and Anti-smuggling today. The Special judge has sent Faisal, cousin, and Mahfooz ur Rehman, accomplice, to jail custody whereas a seven-day physical remand of Shahzad, brother, has been granted and handed over to RTO-1. The regional office has initiated further investigation for identification of others and beneficiaries of the fraud.
Chief Commissioner RTO-1 Dr Faheem Mohammad has appreciated his team for tracking down and apprehending the culprits involved.
He has stated that RTO-1 is resolute in pursuing sales tax frauds and bringing the culprits to justice in order to send a strong signal to all and sundry to discourage tax fraud.
