ISLAMABAD: The Federal Board of Revenue (FBR), the country’s top tax bodycomes into Action over the FIA sugar commission report.
FIA has decided to pursue four major sugar mills in a bid to recoverbillions of rupees in sales taxes they allegedly avoided paying to theexchequer 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 makeits findings public.
The Bureau has also decided that any *benami *transactions identified bythe Commission will be investigated by its respective Benami Zones beforereferences are formally filed against those involved.
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After the massive scale of tax evasion was uncovered by the SIC, the FBRhas decided to implement a track and trace system for three sectors —sugar, cement and fertilizer — starting from July. It believes the movewill help in gauging the actual production of these sectors and thereforehelp in more accurate collection of taxes.
“We are going to open up audit cases of four major mills identified by theSugar Inquiry Commission […] to create demand and then recover billionsof rupees in evaded taxes,” a top FBR official disclosed to *The News* onSaturday.
