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| March 1, 2006 | Wednesday | Muharram 30, 1427 |
Three Lahore firms pay up back taxes
ISLAMABAD, Feb 28: Three Lahore-based firms have deposited Rs41 million in evaded taxes and customs duty to the government exchequer. According to the NAB, the amount was paid after the bureau took action against owners of the firms.
A complaint about tax evasion was received by NAB Punjab after which a probe was ordered. The NAB directed deputy collector customs Asif Khan to inform the defaulters that their cases had been referred to the NAB and if they failed to pay the evaded taxes and custom duties, they would have to face legal consequences.
As a result of the warning, the defaulted amount has been paid and it has been intimated to the NAB, the bureau’s spokesman said. The three firms also paid penalty for late payment of dues.
Rehman Steel Mills and Siddique Iron Industries paid Rs19.54 million each and Rs300,000 each in penalties. The third firm Transtec Pvt Ltd deposited Rs1.63 million.—Reporter
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