FBR comes into Action over the FIA sugar inquiry commission report
ISLAMABAD: The Federal Board of Revenue (FBR), the country's top tax body comes into Action over the FIA sugar commission report.
FIA has decided to pursue four major sugar mills in a bid to recover billions of rupees in sales taxes they allegedly avoided paying to the exchequer over the last five years.
The action is being taken on the findings of the Sugar Inquiry Commission (SIC), after the incumbent government took the momentous decision to make its findings public.
The Bureau has also decided that any *benami *transactions identified by the Commission will be investigated by its respective Benami Zones before references are formally filed against those involved.
After the massive scale of tax evasion was uncovered by the SIC, the FBR has decided to implement a track and trace system for three sectors — sugar, cement and fertilizer — starting from July. It believes the move will help in gauging the actual production of these sectors and therefore help in more accurate collection of taxes.
“We are going to open up audit cases of four major mills identified by the Sugar Inquiry Commission [...] to create demand and then recover billions of rupees in evaded taxes,” a top FBR official disclosed to *The News* on Saturday.