ISLAMABAD: The Federal Board of Revenue has received a complaint against a massive tax evasion by M/s Master Pipe Industries Faisalabad and has been requested to initiate an investigation against the company.
Customs Today learnt from the reliable sources that the Federal Board of Revenue has received a written complaint against the M/s Master Pipe Industries that the company imports steel and other raw materials and getting exemption by showing the exemption certificate.
The company is importing more raw materials than their production requirement and selling them in the open market. The complainant has mentioned that M/s Master Pipe Industries has been doing this business for the last five years and is involved in massive tax evasion.
The Federal Board of Revenue has referred the complaint to the Regional Tax Office concerned and directed that investigation be launched if company is involved in such practice. It is important to mention here that M/s Master Pipe industry is producing UPVC Pipes, PPRC Pipes and fittings, UPVC electrical conduits for electrical wiring system, Soil, Waste, Vent pipes and fittings for residential houses, flats and multi-storey buildings aboveground and underground.
The master pipes are used in hand-operated deep well pumps, tube-wells, sanitary plumbing, drainage, sewerage, agriculture, horticulture, green house irrigation, chilled water for Irrigation and air-conditioning. The company had established its manufacturing facility in the textile city of Faisalabad.