HYDERABAD: The Federal Board of Revenue (FBR) has arrested the owner of a battery factory from Karachi for tax evasion of crores of rupees. According to Chief Commissioner Inland Revenue Regional Tax Office Hyderabad, the owner of a battery manufacturing company involved in tax evasion of more than 600 million rupees was arrested from Karachi and presented in the court of Special Judge Customs Taxation and Anti-Smuggling Karachi. The court handed over the accused to FBR on a 7-day remand, it is feared that the accused is involved in fraud of double amount, investigation is going on in this regard. The Chief Commissioner told Geo News that the private company was involved in sales tax fraud activities, the company was evading taxes by using fake and flying invoices.

Source: The Patriot January 04, 2024 13:49 UTC