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FBR to take action against taxpayers for evading Rs 45 billion

FBR to take action against taxpayers for evading Rs 45 billion

ISLAMABAD: Federal Board of Revenue (FBR) has traced dozens of taxpayers involved in collectively Rs45 billions of tax evasion by violating Section 26 & 31 of Sales Tax Act 1990.

Official sources told Customs Today that FBR has traced during Fiscal Year 2013-14 and Fiscal Year 2015-16 that at least two dozens of taxpayers submitted different sales details and figures while filing their income tax returns where they showed less sales tax in their sales.

Meanwhile, these taxpayers also filed income tax returns while showing increased sales. These taxpayers are found to violate Section 31 of Sales Tax Act 1990 and section 26 of the same Act and involved in at least Rs 45 billion of tax evasion collectively.

Sources added that FBR has traced these tax evaders in the jurisdiction of field formations of Islamabad, Faisalabad, Karachi and Lahore and directed the field formations to take stern action against them.