FAISALABAD: The Federal Board of Revenue (FBR) regional tax office arrested a trader for making fake invoices worth millions of rupees to evade tax.

The FBR officials registered a case against the suspect, Shabbir Shah, the owner of Amin Traders, after collecting evidence.

An FBR officer said an inquiry had established that Shah was a part of fraudsters’ gang involved in issuance of fake invoices. He said Shah along with other persons/abettors was habitual tax fraudster and was found involved in issuance of flying invoices by getting units registered under different CNIC numbers with different regional tax offices (RTOs) across the country to trick the FBR.He said itwas observed that Shah had declared taxable purchases/import of Rs217m and claimed input tax credit amounting Rs43m. He had declared local supplies valuing Rs249m involving output tax of Rs42m reportedly charged to its buyers.

During the scrutiny of sales tax returns data, it was observed that M/s Amin Traders, Faisalabad had declared local supplies of ‘computer & office equipment, brushes, buttons, pencils, ribbons, paints, varnishes, lacquers, enamels, bedding cushions, waxes, articles of iron or steel and woven fabrics’ whereas, as per his sales profile, imports declared by him were completely different from the goods sold.

Shah was the primary beneficiary and beneficial owner of M/s Amin Traders as most of the amount in the bank accounts of the firm had been deposited by him and he had admitted the same.

Published in Dawn, March 3rd, 2021

Opinion

Editorial

Quetta bombing
Updated 10 Nov, 2024

Quetta bombing

THERE appears to be no end to the stream of violent incidents occurring in Balochistan, indicating a clear failure ...
Burdened courts
10 Nov, 2024

Burdened courts

ACCORDING to recent reports, the new chief justice has set about implementing a recently adopted plan for clearing...
Playing in Pakistan
10 Nov, 2024

Playing in Pakistan

MOHSIN Naqvi, Pakistan’s cricket chief, has shown a brave face. Now he has to be unrelenting and put the onus on...
Wake-up call
Updated 09 Nov, 2024

Wake-up call

Pakistan must heed UN's wake-up call and bring its laws and practices in line with its international human rights obligations.
Foreign banks’ exit
09 Nov, 2024

Foreign banks’ exit

WHY are foreign banks leaving Pakistan? In the last couple of decades, we have seen a number of global banking...
Kurram protest
09 Nov, 2024

Kurram protest

FED up with the state’s apathy towards their plight, the people of Kurram tribal district took to the streets on...