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Customs Export recovers Rs7.82m by M/s Shafaq Traders & M/s MJ Associates

Customs Export recovers Rs7.82m by M/s Shafaq Traders & M/s MJ Associates

KARACHI: Collector Customs Export Saqif Saeed has recovered evaded amount of 7.82 million taxes and duties from M/s Shafaq Traders and another company M/s MJ Associates.

Sources told Customs Today on Monday that during scrutiny of the import data, it was revealed that M/s Shafaq Traders availed undue benefits and concessions by importing a consignment of curtain fabrics, carpets, plastic sheets and other items misusing the SRO 551 through Examiner Mumtaz Aiwan on December 23, 2017.

Sources said that the company was allegedly involved in tax evasion of Rs 4.25 million. Investigations were started after detecting the tax evasion and the Customs Export issued a final notice on June 28, 2018 to deposit the evaded amount within 14 days.

After receiving the notice, the management of M/s Shafaq Traders deposited the evaded amount in the official account of the Customs Export on July 16, 2018.

While management of M/s MJ Associates also cleared Rs 3.57 million amount of taxes and duties. Sources said that M/s MJ Associates also availed undue benefits and concessions and avoided paying taxes according to the customs bylaws.

The Customs Export authorities served on it a final notice on June 26. The management of M/s MJ Associates deposited the evaded amount after receiving the final notice in this regard.