Sources told Business Recorder here on Thursday that Naeem Siddiqui has been arrested from his office in Blue Area. The importer has been engaged in import and local re-sale of computer items in domestic market. The agency has worked out alleged tax evasion to the tune of Rs 150 million. Following registration of FIR against the importer, the agency has arrested the accused and obtained two days physical remand from the session judge Rawalpindi. The accused is now in Poly Clinic hospital due to health issues.
According to the FIR registered against the accused, a credible information was received by the Directorate (Intelligence & Investigation - Inland Revenue) Islamabad wherein it was identified that Naeem of M/s CSM Distribution Islamabad is allegedly involved in tax fraud as defined under section 2(37) of the Sales Tax Act 1990 by knowingly and dishonestly making taxable supplies without discharging tax liability that caused huge loss to the national exchequer.
During the inquiry, import data of a leading IT company's partners in Pakistan, which was shared by IT company, was checked and it was found that the accused made purchases from the said international IT company in millions of dollars, and subsequently made supplies to different persons in Pakistan, however did not discharge his sales tax liability by not getting himself registered with tax department.
Further inquiry in the case revealed that the person made purchases of over $8 million from July 1, 2010 to June 30, 2012. The said purchases were subsequently brought to Pakistan. However, it was revealed that sales tax on supply of taxable goods was evaded knowingly and dishonestly.
In the light of facts reported above and evidence available on record, the case under section 37A of the Sales Tax Act read with section 2(37) is registered against him for allegedly committing offences including tax fraud as defined under section 2(37) of the Act punishable under section 33(13) & 33(7) of the Sales Tax Act, 1990, directorate of intelligence IR added.