KARACHI: FBR’s Large Tax Office Karachi has revealed a revenue loss of Rs 5 billion to the national exchequer through fake sales tax invoices.
After 3 months of detailed investigation by Large Tax of Karachi, fake sales tax invoices worth Rs. 30 billion and tax evasion of Rs. 5 billion have been identified.
After receiving evidence of tax evasion, LTO Karachi authorities have registered a case against Mrs. AH Impex and arrested the owners of the company, Nawab Khan and Aftab. The arrested owners are father and son.
Officials of LTO Karachi say that this case is related to the steel sector and in this sector, inputs were claimed by creating fake invoices and sales tax worth Rs 5 billion was evaded.
Officials say that an individual from the steel sector has voluntarily deposited Rs 1 crore on the issuance of notices by the FBR.
Officials say that after completing the audit of China, the accused have been arrested. When the tax profile of LTO Karachi registered person was checked, it was revealed that Nawab Khan was involved in issuing fake invoices. Who gave fake sales tax invoices to all buyers and submitted fake tax returns, from December 2021 to February 2023, the company made local purchases of Rs 13 billion 88 crores, during which input tax was claimed on local purchases of Rs 2 billion 36 crores.
