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Businessman arrested for Rs100m ST evasion

Businessman arrested for Rs100m ST evasion

LAHORE: A prominent businessman in steel sector has been arrested by Regional Tax Office Lahore for his alleged involvement in sales tax evasion up to Rs 100 million.

Official sources said that an FIR has been registered against the accused and judicial remand has been obtained from the magistrate against the alleged tax evader.

Further investigation is underway which may result in arrest of more persons in steel sector involved in tax frauds. It is learnt that he is either front man or advisor to chronic sales tax evaders in steel sector or operating with different business names. He is said to be a close relative of some officer of IRS in Lahore.

Sources further disclosed that in last meeting of Special Steel Committee appointed by Finance Minister one of the persons from the committee was critical of not putting hands on this influential accused. It was learnt that the department was already working on this person and discovered that the person had been running different concerns in the steel sector (steel smelters and re-rollers).