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Customs Export recovers Rs 8.04m from defaulter companies

Customs Export recovers Rs 8.04m from defaulter companies

KARACHI: The Customs Export has recovered evaded amount of taxes and duties of Rs 8.04 million from defaulter companies which were issued with notices to pay the outstanding dues and issued first show cause notice in 2018.

Sources told Customs Today that during scrutiny of the import data, it was revealed that M/s Suleman Traders availed undue benefits and concessions by importing different consignments by misusing the SRO 567 through Examiner Raheel Waris. Sources said that the company was allegedly involved in tax evasion of Rs 3.54 million.

After detecting the tax evasion, the Customs Export issued it with a final notice on December 27, 2017 to deposit the evaded amount within 14 days.

After receiving the notice, the management of M/s Suleman Traders deposited the evaded amount in the official account of the Customs Export on January 11.

On the other hand, the management of the M/s M.K Export Company Karachi also cleared Rs 4.50 million of taxes and duties. Sources told the correspondent that M/s M.K Export Company Karachi 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 December 26, 2017. After receiving the notice, the management of the M/s M.K Export Company Karachi deposited the evaded amount of taxes.