DG of I&I-IR, Hyderabad and Karachi busts network of tax fraudsters

HYDERABAD: As part of the national drive against tax crimes/frauds by the FBR, the Directorate General of Intelligence & Investigation-Inland Revenue Hyderabad and Karachi have unearthed a network of tax fraudsters who have caused a loss of billions of rupees to the national exchequer.

Following a thorough investigation, both the Hyderabad and Karachi Directorates have registered FIRs against M/s Rehman Enterprises and M/s ZA Impex involving tax fraud amounting to Rs 10 billion and Rs 11.692 billion respectively under the provisions of Sales Tax Act, 1990.

The investigation revealed the involvement of organized groups in the establishment of fake units/companies, and issuing fake sales tax invoices. Subsequent validation of this fraudulent activity was provided by the Financial Monitoring Unit through detailed Financial Intelligence reports (FIs).

In order to delay the proceedings and influence the inquiry, the accused lodged many complaints against the officers of Directorate General of I&I-IR on various fora. Recently, a private complaint was filed in the court of Hon'able Special Judge Central-I, Lahore, levelling baseless allegations against the DG I&I-IR and other officers which has been suspended by the Honourable Lahore High Court on 3rd June, 2024. FBR and its field formations are resolute in their mission to apprehend and prosecute individuals involved in tax-related fraudulent activities.

By holding the fraudsters accountable, not only the revenue amounting to billions of rupees will be safeguarded, but a fair and equitable environment will be fostered for genuine taxpayers.

Copyright Business Recorder, 2024