PESHAWAR: The Federal Board of Revenue’s Directorate of Intelligence and Investigation Inland Revenue Peshawar has unearthed an organized gang involved in issuance of fake sales tax invoices, which inflicted huge financial losses to the government kitty. The accused have registered different companies with various names under the Sales Tax Act 1990 and issued fake sales tax invoices worth crores of rupees. APP
As result, many business units get fake input tax adjustment claims that caused colossal losses to the government kitty.
As per initial estimates, Rs645 million losses has been reported, says a press release here Wednesday.
The directorate have arrested three accused including a businessman from an office in a plaza located on Ashraf Road Peshawar and registered FIR against them.
The accused were produced in the court of special judge Customs Anti Smuggling and Taxation Peshawar that granted two days physical remand of the accused.
The arrest of more persons involved in issuance of the fake invoices of sales tax and fraud was expected and strong action was being taken.
