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Customs Export recovers Rs11.75m from defaulter companies

Customs Export recovers Rs11.75m from defaulter companies

KARACHI: The Customs Export has recovered evaded taxes and duties amounting to Rs 11.75 million from defaulter companies which were issued with notices in this regard.

Sources told Customs Today, during scrutiny of the import data, it was found that M/s Aryan and Co. availed undue benefits and concessions by importing different consignments in the month of September 2007 by the hand of examiner Shoaib Ali from Port Wasim, and misusing the SRO 566.

The company founded involved in a tax evasion of Rs 7.50 million. After detecting tax evasion, the Customs Exports issued them with final notice to deposit the evaded amount within seven days.

After receiving the notice, the management of the M/s Aryan and Co. deposited the evaded amount in the official account of the Customs Exports on 16th February.

On the other hand, the management of the M/s Suleman Traders also cleared Rs 4.25 million of taxes and duties. Sources told that M/s Suleman Traders also availed undue benefits and concessions and avoided paying taxes according to the customs by laws.

The Customs Exports authorities issued them with a final notice. After receiving the notice, the management of the M/s Suleman Traders deposited the evaded amount of taxes on 16 February.