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Peshawar I&I detects tax evasion of Rs4.3m by M/s Brother Exporters

Peshawar I&I detects tax evasion of Rs4.3m by M/s Brother Exporters

PESHAWAR: Directorate of Customs Intelligence and Investigation (I&I) detected tax evasion of Rs4.3 million by M/s Brother Exporters.

According to detail on the directions of Director I & I Dr. Arsalan Subuctageen a committee was formed to investigate record of M/s Brother Export Processing Zone Risalpur. It was revealed by the investigative team that the corresponding unit has no running machinery from last three years while the unit imported crude oil of Rs 8 million.

The unit caused loss of Rs 4.3 million to the national exchequer for which an FIR 34/2018 was filed against the owner of accused unit.

Talking with Customs Today Director I&I Dr. Arslan informed that through operation initiated by customs intelligence against the tax evaders. Dr Arsalan added that no effort will be left to mend the ways of tax evaders because the national revenue already bearing heavy losses by the hands of importers.

The said unit which have been importing crude oil from last three years on fraud scam of running machinery while on the other hand the whole oil had been sold in market illegally.

The unit not only caused loss to national exchequer but also has discouraged genuine importers of crude oil in Mardan. The Director I &I further said that the national economy has been drafted to low level by such fraudulent.

Dr Arsalan lauded the efforts of I &I wing Mardan for tracing the tax evader for doing fraud and said that such steps can help the import and export to grow because market price become stable only if every import comes through a genuine way.

The I&I customs will continue to work for digging out corruption committed by exporters and importers in which the role of chamber of commerce and industries also become crucial.

The director added that the importers and exporters also need to identify the black sheep in the business in order to facilitate customs fbr to eliminate the risk of tax evasion.