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PCA detects Rs 60m tax evasion by M/s Nestle Pakistan Limited

PCA detects Rs 60m tax evasion by M/s Nestle Pakistan Limited

KARACHI: Directorate of Post Clearance Audit (PCA) Director Nadeem Memon has detected tax evasion of Rs 60 million allegedly by M/s Nestle Pakistan Limited.

Director PCA Nadeem Memon told Customs Today that M/s Nestle Pakistan Limited imported 64 consignments of coco crunch and caused a loss of Rs 60 million to national exchequer by evading taxes and duties. The director said that a final report in this regard has already been forwarded to the Customs Adjudication-I for further proceedings.

Sources told that during scrutiny of import data it was revealed that M/s Nestle Pakistan Limited through its clearing agent M/s Akram Associates Private Limited and M/s AAS Engerprises Private Limited imported these crunch by using PCT Heading 1904.9000 and evaded taxes and duties. Sources told that imported items falls in the jurisdiction of 1904.9000 for which the importer have to pay 20% customs duty, 17% sales tax.

Sources told that M/s Nestle imported consignments from Indonesia by using PCT Heading 1904.1090 while PCT 1904.9000 from Malaysia.

Sources told that PCA also issued a show cause notice to the management of M/s Nestle Pakistan Limited asking them to clear the outstanding amount at the earliest otherwise stern action will be taken against the company.