Tuesday , December 11 2018
Breaking News
Home / Breaking News / FBR detects tax evasion of Rs 245.59m by M/s National Logistics Cell
FBR detects tax evasion of Rs 245.59m by M/s National Logistics Cell
????????????????????????????????????

FBR detects tax evasion of Rs 245.59m by M/s National Logistics Cell

ISLAMABAD: The Federal Board of Revenue (FBR) has detected a case of non-deposit of Rs 245.59 million income tax in the government exchequer by the M/s National Logistic Cell.

According to Section 165 of the Income Tax Ordinance 2001, every person collecting or deducting tax will submit a monthly statement in the prescribed form setting out the name, CNIC, National Tax Number (NTN) and the address of each person from whom tax has been collected or to whom payments have been made from which tax has been deducted in each month.

According to FBR report, M/s National Logistic Cell, under the jurisdiction of Regional Tax Office, Rawalpindi, paid heavy amounts to various contractors including M/s Habib Construction (Pvt) Limited during the period between 2012 and 2014 as per information provided by Director General, Commercial Audit & Evaluation. Only the names of contractors were provided by National Logistic Cell without mentioning the NTN numbers of the contractors to whom payments were made.

National Logistic Cell also did not file income tax returns as per soft data provided by Pakistan Revenue Automation Ltd (PRAL). This mean no tax had been deposited into government exchequer by the National Logistic Cell which resulted into likely loss of Rs. 245.59 million.

FBR held that matter of tax evasion is very serious in nature hence detailed inquiry is required to ascertain the reasons for the stated loss to public exchequer. Federal Board of Revenue has directed to the concerned officers to fix the responsibility against the person for not initiating legal proceedings for non recovery of tax withheld and loss of government revenue be made good along with recovery of default surcharge   and imposition of penalties under the relevant laws.