FBR Unearths Massive Case Of Under Invoicing

The Federal Board of Revenue (FBR) has unearthed a case of massive under invoicing and trade based money laundering from Lahore based importer

ISLAMABAD, (UrduPoint / Pakistan Point News - 19th Jun, 2021 ) :The Federal board of Revenue (FBR) has unearthed a case of massive under invoicing and trade based money laundering from Lahore based importer.

The duty and taxes evaded in the case are to the tune of Rs 186 million, said a press release issued by FBR here Saturday.

The Directorate General of Customs Post Clearance Audit of the Federal Board of Revenue has unearthed case of massive under invoicing and trade based money laundering on the case forwarded by Chief Collector of Customs Appraisement South Karachi.

Divulging the details, the release said that a Lahore based Importer imported goods by declaring values massively less than actual values. The exporter of the goods in a foreign country has confirmed that the invoice value declared by the importer is grossly under invoiced and actual invoices have not been declared with customs and instead, fake and tempered invoices have been presented. After detailed Audit and Investigation of the case, an FIR was registered against the importer.