KARACHI: Continuing its drive against big fishes, the Federal Board of Revenue (FBR)’s wing, Directorate of Intelligence & Investigation-Inland Revenue (I&I-IR) Karachi has raided the big name of construction industry ‘Saima Group’s head-office which is also known as Saima Builders.
According to details, the special team of I&I-IR, Karachi, on the instructions of Director General (DG) IRS, Khawaja Tanveer Ahmad, has conducted a raid on the premises of the Saima Group’s head-office and confiscated important record from representatives of the real estate development firm.
Sources informed customnews.pk that I&I-IR, acting upon authentic information, raided at the place of the Saima group, which has a comprehensive regional network throughout Pakistan and it is a big name of construction industry.
Saima Group is involved in real estate planning & development, and building mega projects both residential and commercial.
According to reliable internal sources, the Directorate of I&I-IR found that the company is allegedly involved in tax fraud worth of billions by disposing of assets and not declaring the income.
I&I-IR gathered information that SSG is involved in businesses of construction mega residential and commercial projects and have been engaged in this business since 1985 while the group has completed 40 mega projects so far and several big projects are under construction.
Accordingly, on the basis of above said information, the action under section 38 of Sales Tax Act, 1990 and Section 175 of Income Tax Ordinance , 2001 was conducted on 31st of March 2016 and the team members, led by Deputy Director, Imran Qadeer successfully completed the raid.
The team members thoroughly examined the record available in the premises and resumed CPU,and the other relevant data under proper seizure/record resumption memo, duly signed by the officers as well as representatives/witnesses of the registered person.
The team members concluded the action and reported back to the office of Directorate of I&I-IR where the matter was reported and the resumed record /CPU were kept ion safe custody.
Presently, the resumed record is under examination and further progress in the case will be reported in due course of time.