Wednesday , December 19 2018
Breaking News
Home / Karachi / Customs Export recovers Rs 7.62m from defaulter companies
Customs Export recovers Rs 7.62m from defaulter companies

Customs Export recovers Rs 7.62m from defaulter companies

KARACHI: The Customs Export has recovered evaded taxes and duties amounting to Rs 7.62 million from defaulter companies which were issued with notices to pay the outstanding dues.

Sources told Customs Today that during scrutiny of the import data, it was revealed that M/s Zoobi Traders Karachi availed undue benefits and concessions by importing different consignments and misusing the SRO 467.

The company was allegedly involved in tax evasion of Rs 4.12 million. After detecting the tax evasion, the Customs Export issued them with a final notice on November 30, 2017 to deposit the evaded amount within 14 days. After receiving the notice, the management of M/s Zoobi Traders Karachi deposited the evaded amount in the official account of the Custom Exports on December 30 2017.

On the other hand, the management of the M/s Zari and Sons Karachi also cleared Rs3.50 million of taxes and duties. Sources said the M/s Zari and Sons Karachi also availed undue benefits and concessions and avoided paying taxes according to the customs bylaws.

The Customs Export authorities issued them with a final notice on December 15, 2017. After receiving the notice, the management of M/s Zari and Sons Karachi deposited the evaded amount of taxes.