AIRLINK 74.85 Increased By ▲ 0.56 (0.75%)
BOP 4.98 Increased By ▲ 0.03 (0.61%)
CNERGY 4.49 Increased By ▲ 0.12 (2.75%)
DFML 40.00 Increased By ▲ 1.20 (3.09%)
DGKC 86.35 Increased By ▲ 1.53 (1.8%)
FCCL 21.36 Increased By ▲ 0.15 (0.71%)
FFBL 33.85 Decreased By ▼ -0.27 (-0.79%)
FFL 9.72 Increased By ▲ 0.02 (0.21%)
GGL 10.45 Increased By ▲ 0.03 (0.29%)
HBL 112.74 Decreased By ▼ -0.26 (-0.23%)
HUBC 137.44 Increased By ▲ 1.24 (0.91%)
HUMNL 11.42 Decreased By ▼ -0.48 (-4.03%)
KEL 5.28 Increased By ▲ 0.57 (12.1%)
KOSM 4.63 Increased By ▲ 0.19 (4.28%)
MLCF 37.80 Increased By ▲ 0.15 (0.4%)
OGDC 139.50 Increased By ▲ 3.30 (2.42%)
PAEL 25.61 Increased By ▲ 0.51 (2.03%)
PIAA 20.68 Increased By ▲ 1.44 (7.48%)
PIBTL 6.80 Increased By ▲ 0.09 (1.34%)
PPL 122.20 Increased By ▲ 0.10 (0.08%)
PRL 26.58 Decreased By ▼ -0.07 (-0.26%)
PTC 14.05 Increased By ▲ 0.12 (0.86%)
SEARL 58.98 Increased By ▲ 1.76 (3.08%)
SNGP 68.95 Increased By ▲ 1.35 (2%)
SSGC 10.30 Increased By ▲ 0.05 (0.49%)
TELE 8.38 Decreased By ▼ -0.02 (-0.24%)
TPLP 11.06 Decreased By ▼ -0.07 (-0.63%)
TRG 64.19 Increased By ▲ 1.38 (2.2%)
UNITY 26.55 Increased By ▲ 0.05 (0.19%)
WTL 1.45 Increased By ▲ 0.10 (7.41%)
BR100 7,841 Increased By 30.9 (0.4%)
BR30 25,465 Increased By 315.4 (1.25%)
KSE100 75,114 Increased By 157.8 (0.21%)
KSE30 24,114 Increased By 30.8 (0.13%)

ISLAMABAD: President Arif Alvi has rejected another representation filed by a leading tractor manufacturing company against the order of the Federal Tax Ombudsman (FTO) directing the Federal Board of Revenue (FBR) to investigate the allegations of tax fraud against the said company.

The president has issued a new decision in the representation filed by the said company against the findings/recommendations (dated Feb 10, 2023) passed by the FTO in complaint number 4610/ISB/IT/2022. The president has rejected the said representation (49/FTO/2023).

Last week, three FTO advisers held a press conference at the FTO Head Office on the President’s order against seven representations filed by FBR and the said company in complaint number 3858/SKT/IT/2022, 5423/LHR/ST/2022, 5666/KHR/ST/2022, 5620/KHI/ST/2022, 5662/KHI/ST/2022. The president had issued order in representations numbers 20, 43,50, 63, 64, 65/FTO/2023 &representations numbers 407/FTO/2022.

The president has issued two different decisions in separate representations filed by the said company.

The president order stated that the FBR (Agency) has already initiated/taken certain steps to investigate the allegations of Tax fraud levelled by the Complainants. The Audit Proceedings u/s 25 of the Sales Tax Act for Tax Year 2018, 2019, 2020 and 2022 have already been initiated which are presently under process. The Agency (FBR) has also assured that the allegations of fraud will meticulously be investigated during the Audit Proceedings. Tax fraud is a menace to be curbed with full force and legal authority to deal with the person against whom such a complaint or allegation is levelled, but at the same time the person concerned should be give the fullest opportunity to explain its conduct and justify the dealings. Every possible effort should be made to ward off any unjust, unfair and unreasonable treatment at the hands of the authority concerned. In such circumstance, the representation of the Millat Tractors Limited (MTL) deserves to be disposed of in terms of above observation. Accordingly, the President, as per his decision has been pleased to dispose of the representation accordingly, President’s order added.

The FTO has recommended FBR to direct the chief commissioner IR, LTO, Lahore to probe/conduct detailed inquiry in the light of discussions held in the FTO order, in accordance with the provisions of Sales Tax Act 1990 read with SROs 563(I)/2022 dated 29-04-2022, 1248(I)/2020 dated 23-11-2020 and 363(I)/2012 dated 13-04-2012.

The FTO has also recommended director general Benami Initiative, the FBR to probe the incidence of Benami Transactions through 82 dealers by the company not only in the case of this company but also other leading tractor manufacturing units.

Copyright Business Recorder, 2023

Comments

Comments are closed.