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Customs Export recovers Rs 8.34m from defaulter companies

Customs Export recovers Rs 8.34m from defaulter companies

KARACHI: The Customs Export has recovered evaded amount of taxes and duties of Rs 8.34 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 Huzaifa Fabrics Manufacture and Export availed undue benefits and concessions by importing different consignments by misusing the SRO 566 through Examiner Waris Suhail. Sources said that the company was allegedly involved in tax evasion of Rs 4.89 million.

After detecting the tax evasion, the Customs Export issued it with a final notice on December 29, 2017 to deposit the evaded amount within 14 days.

After receiving the notice, the management of M/s Huzaifa Fabrics Manufacture and Export deposited the evaded amount in the official account of the Customs Export on 15th January.

On the other hand, the management of the M/s Ziaullah Karachi and Sons also cleared Rs 3.45 million of taxes and duties. Sources said that M/s Ziaullah and Sons 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 27, 2017. After receiving the notice, the management of the M/ Ziaullah and Sons deposited the evaded amount of taxes.

Source said more than 16 cases are in under investigation.  Earlier Customs Export has issued show cause notice to M/s Rabeel Textile for recovery amount of Rs 3.78 million.