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Fake companies’ owners sent to judicial custody for tax evasion

Fake companies’ owners sent to judicial custody for tax evasion

LAHORE: A customs special judge has sent an accused to judicial custody for setting up four fake companies to evade duty and taxes.

Muhammad Asghar Shah was arrested by the customs I&P department and Customs Judge Tanveer Akbar extended six-day physical remand of the accused.

However, the judge sent the accused to the judicial custody, ordering the customs officials to produce him on December 5.

Another two accused have been give interim bail in the case.

The Model Customs Collectorate (Preventive) unearthed the scam involving millions of rupees evasion of customs duty and taxes via registration of fake companies and forged import documents.

According to details, four companies have been involved in duty and tax evasion for a long time.

“Initially three goods declarations filed have been intercepted at Air Freight Unit Lahore. The preliminary investigation conducted so far transpires that a freight forwarding and shipping agent had got registered some importing firms in his and relatives names which were being operated from addresses which do not exist,” they added.

They said that the illegal practice was being undertaken through the issuance of fake/dubious house airway bills against Master Airway Bill whereby the amount of freight had been suppressed manifold on the house airway bills.

The sources added scrutiny of record revealed that the said practice was being done for a long period of time inflicting heavy losses to the national exchequer.

They revealed that initially four ‘bogus’ companies Meerab Enterprises, Spark International, Time Trading Company and MAQS Computer Company have been found involved in the mega tax evasion.

The sources said that MCC Preventive has lodged an FIR against the companies for fiscal fraud.

The record and computers, being used for preparation of fake invoices/fake Airway Bills and allied import documents, have been confiscated.