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Issuance of notices underlies retrieval of taxes from defaulter companies

Issuance of notices underlies retrieval of taxes from defaulter companies

KARACHI: The Customs Export has recovered an evaded amount of taxes and duties of Rs13.75million from defaulter companies which were issued with notices to pay the outstanding dues.

Sources told Customs Today that, during a scrutiny of the import data, it was revealed that M/s Tehmina Marble and Export availed undue benefits and concessions after exporting different consignments of marble polish sheets by misusing the SRO 558 through Examiner Masoom Nawaz Khan on September 7, 2017.

Sources further said that the company was allegedly involved in the tax evasion of Rs8.25million. After detecting the tax evasion in the previous month, the Customs Export served on it a final notice on 1st of April 2018 to deposit the evaded amount in 14 days.

After receiving the notice, the management of M/s Tehmina Marble deposited the evaded amount into the official account of the Customs Export on 11th of April in favor of the Custom Export.

Another defaulter company named M/s Logistic Associates (Thatta) also cleared Rs5.50 million of taxes and duties. Sources told the correspondent that M/s Logistic Associates (Thatta) 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 2nd of April 2018. After receiving the notice, the management of M/s Logistic Associates (Thatta) deposited the evaded amount of taxes into the official account.

It is to mention here that Custom Export will investigate 12 more cases in the month of April.