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FBR Pledgees’ Action Against False Invoicing in Steel Sector

Islamabad: The Federal Revenue Commission (FBR) has taken action against counterfeit bills in the steel industry, affected officials know.

According to existing documents, the FBR has written to the Head of Customs Valuation and Facilitation, in Karachi, Lahore, Islamabad and Quetta, asking them to submit reports of illegal businesses by April 4. Year.

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FBR said that the incorrect declaration of imported steel not only caused damage to the domestic tax paying industry but also affected the state treasury.

In early April, the Association of Major Steel Producers of Pakistan (PALSP) in a letter to the Special Assistant to the Prime Minister (SAPM) on Revenue, Dr Waqar Masood and FBR complained that the acceptance of the request Claims through fake sales and forged tax invoices lead to loss of treasury revenue of billions of rupees every month as well as destruction of paper steel fabricators who ethically pay government taxes .

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The association has called on the sponsoring organization to solve the problem by working with the association. He asked the FBR to identify fake invoices and offered to assist in finding ways to fix the problem in addition to making structural changes to sales tax laws to prevent any taxpayer from using flight bill. 

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