Islamabad October 14 2024: Regional Directorates of Intelligence & Investigations Inland Revenue arrested five accused including four members of top management of End users/beneficiaries (CFOs) responsible for the tax fraud involving billions of sales tax loss to the National Exchequer.
In pursuance of the press conference held on 10-10-2024, collectively by the Finance Minister, the Chairman FBR & the Director General, Intelligence & Investigation, Inland Revenue informing about the crackdown to be conducted against beneficiary businesses of fake/flying invoices and their CFOs involved in tax malpractices, Regional Directorates of Intelligence & Investigations Inland Revenue arrested five accused on 14-10-2024 across the country including one of the leading fraudsters engaged in creating chains of dummy businesses and four members of top management of End users/beneficiaries (CFOs) responsible for the tax fraud involving billions of sales tax loss to the National Exchequer.
While taking action in a registered FIR involving billions of sales tax fraud, the Directorate of Intelligence & Investigation-Inland Revenue, Hyderabad, has arrested the Chief Financial Officer (CFO) and Purchase Officer of a leading Lahore-based Battery Manufacturer on charges of abetment/connivance in Sales Tax fraud by claiming fake input tax on Lead. In this intelligence-based operation, the Hyderabad team was assisted by the Directorate Lahore. The revenue loss caused by the arrested accused alone is more than a billion to the National exchequer.
In a separate intelligence-based operation, the Directorate of Intelligence & Investigation-Inland Revenue, Faisalabad, has arrested Chief Financial Officers (CFOs) of TWO (02) sister concerns and leading Faisalabad-based textile unit on the charges of abetment/connivance in Sales Tax fraud by claiming fake input tax on coal. The revenue loss caused by the fraudulent practices involving a gang of fraudsters runs in hundreds of millions of PKR to the national exchequer. An FIR had already been registered against the suppliers, beneficiaries, connivers, and others.
In another development, the pre-arrest bail of accused Taswar Shahid, nominated in several FIRs, was rejected by the Court on 14-10-2024. Subsequently, he was arrested from outside the Courtroom. He is a leading member of the Gang operating fake and dummy units for generating fake sales tax input, which is used by the End Users/Beneficiaries, causing billions of losses to the National Exchequer.
These arrests have been executed in the wake of the country-wide crackdown against the organized mafia and beneficiaries involved in sales tax fraud and in line with FBR’s enforcement measures to enhance tax compliance.
