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Senate seeks FIA to report on tax evasion in oil import

Senate seeks FIA to report on tax evasion in oil import

ISLAMABAD:Senate Standing Committee on Planning and Development has asked Director General Federal Investigation Agency to submit a report on adulterated oil import and tax evasion during those imports.
Federal Investigation Authority (FIA) likely to be given charge of examination of adulterated oil and of investigations in possible tax evasion by oil importers.
As per details, Director General FIA would brief the Senate Standing Committee on Planning and Development in coming month on the said issue.
A source told Customs Today that Senate Standing Committee had expressed deep concerns over the import of adulterated oil as well as tax evasion by oil importing companies. The committee has formally asked FIA to look into the scam and then come back with comprehensive briefing on its findings.
The source further said that import of adulterated oil had caused loss of billions of rupees in terms of damage to machinery of vehicles and industry.
“The oil importing companies have evaded tax and inflicted billions of rupees loss to national exchequer” he added.