Private firm owner remanded for seven days for ‘sales tax fraud’

HYDERABAD: A man on Wednesday was produced before the court of a Customs, Taxation & Anti-Smuggling Karachi special judge, who remanded him for seven days. The court was informed that according to investigations, the man’s company had been evading taxes by using fake/bogus and flying invoices.

Inland Revenue Deputy Commissioner Akhtar Hussain arrested the owner of this major private company in Karachi under Section 2(37) of the Sales Tax Act for his alleged involvement in sales tax fraud.

Customs officials said that the man had been involved in fraud of over Rs600 million. Action was taken on the instructions of Regional Tax Office Hyderabad Inland Revenue Chief Commissioner Muhammad Farooq Azam Memon and Inland Revenue Commissioner Naib Ali Pathan after receiving evidence against him.

According to Customs officials, the arrest was made after a thorough investigation by the Inland Revenue Service (IRS), which found that the private company had been involved in sales tax fraud.

The court was informed that the IRS would provide all the necessary evidence to the court to ensure that justice is served, and that the IRS is working to combat tax fraud.