KARACHI: The Directorate of Customs Intelligence and Investigation has unearthed evasion of duties and taxes to the tune of Rs775 million.
The customs intelligence has sent cases of various importers who misused SRO-1125 of 2011 to relevant adjudication authorities to recover the evaded money.
According to a press release issued on Monday, the director general intelligence and investigation was informed that many importers of fabric and yarn were illegally availing the concession of sales tax by misusing the SRO.
Under the SRO, concession from duties and taxes could only be availed by those importers who also have manufacturing facilities.
The customs authorities estimate that total value of such illegally and mis-declared consignments is more than Rs3 billion. These consignments were cleared from different ports of Model Customs Collectorate of Appraisement and Port Qasim.
Karachi’s Customs Intelligence director, Asif Marghoob Siddiqui, confirmed the evasion, saying that inland revenue wing of the Federal Board of Revenue has also testified that there were no manufacturing units.
He said his directorate earlier detected evasion of Rs576m during April-May 2014.
Published in Dawn, October 14th, 2014
