New reports from FBR in largest tax fraud in history of Pakistan
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The Federal Board of Revenue (FBR) took a significant step on Wednesday by initiating legal proceedings against the proprietors of K H & Sons, Mohammad Kashif and Mohsin Ali. The charges revolve around their alleged involvement in what is being considered the largest tax fraud case in the history of the country, totaling a staggering Rs314 billion.
This noteworthy development unfolded when the FBR officially lodged a case against Kamal Mohammad Kashif and Mohsin Ali, the individuals behind K H & Sons, on allegations of tax fraud. Inside sources from the FBR have disclosed that dedicated efforts are being made to locate and apprehend these nominated suspects, who are suspected of conducting business activities through a web of counterfeit invoices.
According to a spokesperson from the FBR, the alleged masterminds, Kashif and his partner Mohsin, were purportedly fabricating invoices to show sales of iron and steel across the nation. The authorities are intensifying their efforts to track down an additional 15 individuals implicated in this intricate network.
This revelation is of paramount importance as it underscores the magnitude of the tax fraud uncovered by the Federal Board of Revenue (FBR), reaching an astonishing Rs314 billion. The fraud was brought to light through the diligent efforts of the Director-General Internal Audit Inland Revenue team. It was discovered that K H & Sons, the supposed company at the heart of this fraudulent scheme, existed only on paper and was registered under the name of a benami individual, Muhammad Kashif.
The fraudulent company's documents falsely claimed that it was engaged in the business of iron and steel. Curiously, it listed its address as Liaquat Market, Agri Market, and M A Jinnah Market. Sources have also revealed that this sham company's name was exploited for various illicit activities, further deepening the complexity of the case
