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FBR recommended to scrutinize 60 companies in particular

FBR recommended to scrutinize 60 companies in particular

KARACHI: Model Customs Collectorate of Appraisement-West and the Model Customs Collectorate of Appraisement-East have recommended to Federal Board of Revenue to check the status of around 60 manufacturers’ companies.

Sources in FBR informed Customs Today that both the collectorates have referred FBR to check the status of around 60 manufacturers’ companies through Inland Revenue. The companies were found suspicious on depositing duty/taxes throughout the fiscal year 2013-14.

They further said that the information about the suspected companies has been sent to FBR episode-wise and Inland Revenue Services (IRS) has initiated an inquiry about the status of those companies.

When contacted, MCC Appraisement-West Collector Muhammad Saleem confirmed the development made in this regard and said the Collectorate has sent the data of around 40 manufacturers’ companies to FBR for scrutinizing the revenue status, as those companies were found suspicious in submitting duty/taxes.

To a query, Muhammad Saleem said that legal action would be taken immediately against those manufacturers in case something comes out in the inquiry report by IRS.

“The overdue amount in share of customs duty, sales tax and income tax would be recovered immediately from those manufacturers, who would be found involved in tax evasion,” he added.