The Directorate of Intelligence and Investigation, Inland Revenue, FBR, Lahore conducted a search and seizure operation at the business premises of M/s. United Auto Industries, the makers of Unite Bravo car in Pakistan, as reported by The Nation.
The raid by the FBR Directorate on United’s office located at 47-B, Johar Town, Lahore was based on credible information taken from the tax record as per which the company is alleged to be involved in under-valuation of its products, non-payment of further tax and illegal adjustment of sales tax on purchases that are irrelevant to its production and supplies.
The team conducted the raid after obtaining search warrant from the area magistrate in term of section 40 of the Sales Tax Act, 1990 and in the presence of witnesses and area police of the police station, Johar Town, Lahore. During the search operation records, documents, laptops, desktops and server machines were also taken into custody by the team of the Directorate.
Investigations are under way in the case and detection sales tax evasion amounting to hundreds of million rupees is expected. The Director of Intelligence & Investigation, IR, Lahore intends to conduct more such actions on those businesses which are involved with tax evasion and are causing huge losses to the national exchequer.
Source: The Nation