I&I-IR sends investigation reports of eight big companies to RTOs

I&I-IR sends investigation reports of eight big companies to RTOs

KARACHI: The Directorate General of Investigation and Intelligence, Inland Revenue (I&I-IR), Karachi, has sent the investigation reports containing tax evasion details of eight big companies to different Regional Tax Offices (RTOs).

According to sources, FBR had asked DG of I&I-IR, Karachi, to probe the alleged tax evasions by eight big private businesses. Investigation officers have prepared a detailed investigation reports in this regard and sent to concerned RTOs, advising necessary actions against them.

According to details, FBR’s wing DG of I&I-IR, probed in to financial matters of eight large companies including Trade Key (pvt) ltd, Danish Motors, Jan Japan, Salman Agencies, Tufail Enterprises, Karim Ghee & Oil Mills Pvt limited, Novelty Gift Centre and Adamjee Pharma Services.

Sources told this scribe that the RTOs of the FBR will send notices to above mentioned companies for the clearance of their outstanding dues. Sources added that the FBR has sped up its tax recovery campaign. In the first phase, the notices will be sent to these companies while on the second stage, the FBR will freeze bank accounts of tax defaulters.

In this list, some of companies are largest revenue based companies of Pakistan, as FBR  had assigned task to I&I-IR to investigate financial and tax matters of Tradekey, which is  a global B2B (business-to-business) company and have presence in many countries. Trade key company owns, manages and operate website which is considered one of the largest International Electronic Marketplaces worldwide for both exporting and importing countries. It connects traders with global whole sellers, buyers, importers & exporters, manufacturers and distributors in over 240 countries. DG of I&I-IR has sent the investigation report of Trade Key (pvt) Limited to the RTO-III.

Moreover, the probe over alleged tax avoidance by Danish Motors, an authorized dealer of Pak Suzuki Motor Company Limited, has been completed by  the intelligence wing of FBR and the investigation report has been sent to the RTO-I.

Similarly another biggest auto dealer, Jan Japan Motors which is a biggest name in Japanese used cars importers and it sells the cars in auction had been under investigation. The investigation report, including details of short levied tax money, of Jan Japan Motors has been sent to RTO-II by DG of I&I-IR.

Salman Agencies, one of the biggest suppliers of cotton yarn for weaving, denim, towels, hosiery and polyester yarn to top textile units of Pakistan and the company is also involved in Dubai Real Estate business. The investigation report has been sent to RTO-I.

Karim Ghee & Oil Mills Pvt limited is one of the biggest names of food & beverage industry, the investigation report of the company has been sent to the RTO-II by the intelligence wing of FBR.

Similarly, investigation reports of Novelty Gift Centre, Adamjee Pharma Services and Tufail Enterprises have been sent to the RTO-II by the said department of tax authority.

Sources said that soon a similar crack down would be initiated against private schools and colleges. It has been found that private schools and franchises of big names such as The Educators are involved in gross evasion of tax. Some of the individuals own several of campuses and they grossly mis-declare their revenues and evade taxes. Moreover, they also evade royalty payable to the franchising institution.

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