The Federal Board of Revenue (FBR) has caught a fraud worth crores under the guise of export facilitation scheme.
A huge tax evasion of Rs 977 million was caught under the guise of export facilitation scheme. According to Director Customs Post Clearance Audit South Shiraz Ahmed, EFS was misused in the import of precious metal molds by a nexus of two fraudulent companies. The fraudulent companies imported 47 containers of precious metal. They declared 111 metric tons of goods while 1,560 metric tons were missing. One fraudulent company evaded tax of Rs 499 million and the other company evaded tax of Rs 478 million.
The Director Customs PCA further said that the fraudulent companies are not included in the active registration list of the FBR. PCA South has issued an alert to all export collectors. Teams have also been formed to arrest the accused.
