FBR unearths major fake & flying invoices scam

Regional Tax Offices' Investigation and Prosecution Cell has unearthed a huge scam of fake and flying invoices.

RTO Faisalabad has registered an FIR against M/s Amin Traders on account of the issuance of fake and flying invoices. As per details, during a search operation, a truckload of records of various businesses, invoices, and hundreds of stamps used in the generation of fake invoices have been confiscated.

So far, from investigations, it appears that the accused is involved in a huge scam of hundreds of millions of tax fraud by means of being the epicenter of notorious business of fake/flying invoices, informed FBR.

Meanwhile, separate teams have been constituted to unearth the whole scam.

Last week, Prime Minister Imran Khan directed the Federal Board of Revenue (FBR) to focus on seven major areas, ie, reforms in tax regime; simplification of tax codes (federal tax laws); plugging existing loopholes; reduction in discretionary powers of tax collectors; automation to bring transparency in tax system and tackling the issue of flying invoices.