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Federal Board of Revenue (FBR) chairman Shabbar Zaidi told on Sunday that the enforcement action against persons involved in fake and flying invoices to commit sales tax frauds has gained momentum. According to a tweet of Shabbar Zaidi here on Sunday, two people have been arrested on that count in Faisalabad and their accomplice textile exporters and fake accounts have been identified. Laws for prosecution to be used once case is mature, he added.

Sources told that Regional Tax Office (RTO), Faisalabad has busted an organised gang involved in business of fake and flying invoices, causing huge loss to the national kitty. The gang leaders/traders, Mubashar and Ishaq have been arrested by the RTO Faisalabad. They were involved in business of fake/flying sales tax invoices at the Yarn Market of Faisalabad. The gang was using seven banks accounts to carryout benami transactions for committing tax fraud. Since March 2019, the FBR was searching for these two persons, who caused massive revenue loss to the national exchequer.

Copyright Business Recorder, 2019

the author

Sohail Sarfraz is the Chief Reporter in Islamabad. He has been with the paper for over a decade and his contributions to reports on tax related matters as well as Securities and Exchange Commission of Pakistan are recognized and appreciated not only by his readers but also by his colleagues in other media outlets.