PESHAWAR:The Federal Board of Revenue (FBR) Directorate of Intelligence and Investigation Inland Revenue has unearthed an organized gang involved in the issuance of fake sales tax invoices, which inflicted huge financial losses on 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.
As a 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 have been reported,” said a press release here on Wednesday.
“The Directorate has arrested three accused including a businessman from an office in a plaza located on Ashraf Road and lodged FIR against them,” it added.
The accused were produced in the court of special judge Customs Anti Smuggling and Taxation 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.