KARACHI: The Centralized Assessment Unit (CAU) has uncovered a massive Rs5.4 billion FED evasion scheme involving goods misdeclaration by two prominent textile manufacturers.
According to the details, the CAU, operating under the Faceless Customs Assessment System (FCAS), has exposed a massive fraud involving the misdeclaration of imported goods, preventing an attempt to evade Rs5.4 billion of Federal Excise Duty (FED) by two prominent textile manufacturers.
The investigation began when officials detected one of the accused textile units attempt to falsely declare “Acetate tow” as “Polyester Stable Fiber” in shipments from the UAE to circumvent substantial duty payments required for the actual product.
Following this initial discovery, authorities launched a comprehensive audit of similar imports, identifying three additional suspicious consignments — two from the same importer and one from the second accused importer.
Subsequently, physical examinations and laboratory testing were conducted that led to the confirmation of deliberate misdeclaration in all consignments.
“The physical examination and lab test reports leave no room for doubt regarding the nature of this operation,” the documents said. Consequently, separate cases have been registered against both accused importers.
The documents further revealed that the clearing agent, who processed all the suspicious Good Declarations (GDs), was also involved in this tax fraud.
“Preliminary investigations indicate the agent’s active involvement in facilitating the fraud, resulting in their inclusion in both cases, officials said.
Authorities are currently working to apprehend all individuals named in the FIRs as part of ongoing enforcement efforts. Additionally, all collectors have also been communicated to ensure timely post-release verifications to prevent similar incidents in the future, they added.
Copyright Business Recorder, 2025
Comments