ISLAMABAD: The FBR’s Directorate of Intelligence & Investigation (IR), Lahore on receipt of credible information related to sales tax fraud carried out action under Section 38 read with Section 40 of the Sales Tax Act, 1990 against a biscuit company.
Assessment order was issued wherein an amount of Rs4.27 billion as sales tax along with default surcharge and 100% penalty for tax fraud was imposed upon the registered person.
Accordingly, the owner of the company was arrested. Due to proper presentation of case by Directorate of Intelligence & Investigation (IR) Lahore, two bail applications filed by the accused were rejected by a special judge. Subsequently, the accused filed another application for bail before Lahore High Court. The Lahore High Court, Rawalpindi Bench granted post-arrest bail to the petitioner on deposit of an amount of Rs300 million and submission of post-dated cheque worth Rs100 million. The legal process is under way against the accused.
Directorate General of Intelligence & Investigation-IR has performed commendably well in the current financial year from July 2020 to April 2021. The directorate general has forwarded 1210 investigation reports involving revenue of Rs197,714 million to the field formations.
The directorate general conducted 40 raids where estimated revenue amounting to Rs761 million is involved. Directorate General filed 67 complaints under Anti-Money-Laundering Act, 2010 against 75 accused persons involving Rs55.385 million. It also seized 6667 cartons of illegal cigarettes.