AFU detects tax fraud through huge under-valuation of imported goods

KARACHI: The Customs Air Freight Unit (AFU) has detected a case of gross under-valuation, hence foiling the bid to inflict heavy loss to the national exchequer.

According to the details reaching here, M/s Adamjee Pharmaceutical Pvt Ltd, imported a consignment of Pharmaceutical Raw Material (Bromazepam) from Switzerland total Net Weight 25 Kg and filed Goods Declaration (GD). The invoice submitted along with the GD is showing the value of said goods as $688/KG.

During the course of processing the consignment it was found that identical goods namely “Bromazepam” was also imported at $5555/Kg from the same source i.e. Switzerland by M/s Martin Dow Limited. The difference of value between the both calculated to 708%.

Therefore, it was evident that importers Adamjee Pharmaceutical Pvt Ltd, Karachi knowingly and deliberately mis-declared the value of imported goods on GD which resulted in short realization of legitimate Government Revenue to the tune of Rs1.387 million.

Tariq Huda, Collector Preventive has appreciated Additional Collector Tahir Qureshi, Deputy collector Basit Hussain and Principal Appraiser Iftikhar Mehmood for detecting the case and advised the entire preventive staff to take fool-proof measures to check revenue leakage.

 

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