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FBR Recovers Over Rs. 1.3 Billion Sales Tax Evasion

A reputable company’s Rs. 1.358 billion worth of sales tax was fraudulently avoided, according to the FBR Directorate of Intelligence & Investigation (Inland Revenue) Lahore.

The ‘unnamed’ company, according to FBR, issued unauthorized credit notes in Annexure-C of the sales tax returns for enormous sums without corresponding debit notes from the purchasers.

Read More: FBR to Set Up International Centre of Tax Excellence

By suppressing output tax in this manner, the company reduced its sales tax obligation for the tax years during which illicit credit notes were issued and as a result, underpaid taxes to the national exchequer.

The Directorate’s staff methodically gathered information without interfering with the company’s business operations, started legal action in accordance with Section 38 of the Sales Tax Act of 1990, and removed the records and papers from the company’s premises. The company management then consented to deposit the default surcharge and the amount of sales tax associated with the credit note issued/claimed in the return of March 2023.

As a result, on June 20, 2023, the Directorate’s prompt action allowed for the recovery of sales tax of Rs. 1358 million and a Rs. 26 million default surcharge.

In a statement, FBR stated that it is committed to eliminating the problem of tax evasion and tax fraud in order to level the playing field for companies that pay their taxes on time and contribute to the government coffers.

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The sales tax return has been modified to make it illegal for providers of products to issue or claim credit notes in the returns without first issuing debit notes by the corresponding buyers in order to implement a system check on such phoney credit notes.

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