FBR Crackdown Recovers Rs700m from Sales Tax Fraud, Expects Rs1.1bn More Soon

• FBR recovered Rs700 million from a prominent manufacturer in crackdown on sales tax fraud
• Another Rs1.1 billion expected to be recovered from another accused businessperson
• Study shows large firms complicit in annual sales tax fraud of Rs3.4 trillion
• FBR plans to pursue top payers of sales tax and income tax suspected of not paying actual taxes
• Directorate General of Intelligence & Investigation, Inland Revenue cracking down on fraudsters
• Eight people detained in six separate FIRs for involvement in fraudulent paper sales tax transactions
• Manufacturers using sales tax and refund to defraud exchequer in collusion with gangs
• Modus operandi includes opening dummy accounts, issuing fake invoices, and claiming fake input/refund
• Arrested suspects include CFOs, procurement officer, and declared proprietors of businesses engaged in imports
• Recovery of almost Rs1.1 billion anticipated from arrested accused and their beneficiaries
• Organised gangs involved in sales tax fraud uncovered by FBR

Source: dawn.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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