FAISALABAD: The Directorate of Intelligence and Investigation (Inland Revenue), Federal Board of Revenue, on Tuesday seized the accounts record of two cloth dealers on suspicion of “massive tax evasion”.

According to an FBR officer, a team led by Deputy Director Tariq Javeed raided two premises — one of Shaheen Fabrics and the other of Nayab Fabrics — in Kutchery Bazaar and Madina Town, respectively.

During the raids, the accounts records and registers, along with computers were checked.

The officer claimed the initial examination indicated “massive evasion of sales tax”, which might lead to recovery of evaded tax amounts in millions.

The counting of the stocks done on the spot also revealed that large quantities of fabric and finished cloth were being traded without any registration or payment of due tax.

Published in Dawn, November 14th, 2018