Import of rejected plastic rolls waste: Massive tax evasion detected

KARACHI: Collectorate of Customs Export PMBQ has detected a massive tax evasion in the import of rejected plastic rolls waste. According to the details, a packing company has obtained a NOC from the Karachi Export Processing Zone (KEPZ) authority for the import of a consignment, said to have "Rejected Plastic Rolls Waste Assorted sizes and Microns" for further processing.

Subsequently, the clearing agent of the company has filed a Goods Declaration (GD) declaring thereby the description of goods as "Rejected Plastic Rolls Waste Assorted sizes and Microns" valued at US$ 3366.6.

Consequent to the landing of the aforementioned container and its transportation to the Export Processing Zone (EPZ), the collectorate had carried out a physical examination to verify the authenticity of the declaration made through GD that resulted in the recovery of CTCP Printing Plates assorted size instead of the goods declared in GD.

After completion of physical examination, it was established that the said company, an investor of KEPZ with the active connivance of their clearing agent have knowingly & wilfully attempted to evade the chargeable duty & taxes to the tune of Rs9.459 million on the import of CTCP printing plate valuing US$97,161.6. An FIR has been lodged and further investigation is in process.

Copyright Business Recorder, 2021