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FBR, BTB confiscate record of two steel mills due to tax evasion

FBR, BTB confiscate record of two steel mills due to tax evasion

LAHORE: Federal Board of Revenue (FBR) has confiscated the record of two steel mills which are involved in tax evasion. The investigations are already in progress against him.

According to the details, the Broadening of Tax Base (BTB) Zone of Regional Tax Office-II (RTO-II) take action and raided on the premises of two steel mills namely M/s Gulzar-e-Madina Steel Re-Ruling and M/s Raise Steel Industries located in Shalamar Town.

Under the supervision of commissioner Inland Revenue Dr Yasmin Fatima, Broadening of Tax Base (BTB) Zone team comprising Additional Commissioner Azhar Jahingir and Assistant Commissioner Nasir Jamal Shah with staff raided the above mentioned steel mills and confiscated sales purchase books and bank accounts.

Sources told Customs Today that both steels mills sales in millions but not paying single penny to the FBR. After detecting the tax evasion customs authorities considering to take stern legal action against the both companies.