In a major development, the Directorate of Intelligence & Investigation-Inland Revenue, Faisalabad, has arrested the Chief Financial Officers (CFOs) of two Faisalabad-based manufacturers of textile goods on charges of abetment and connivance in sales tax fraud by claiming fake input tax on coal.
The revenue loss caused by these fraudulent practices, involving a gang of fraudsters, amounts to multiple millions of PKR to the national exchequer. An FIR had already been registered against the suppliers, beneficiaries, connivers, and others involved.
These arrests have been executed as part of a country-wide crackdown against sales tax fraud and in line with the FBR’s enforcement measures to enhance tax compliance.
