KARACHI: In a joint operation, Customs Intelligence Karachi and Customs Intelligence Lahore have arrested an accused wanted in FIR lodged by Directorate of Customs Intelligence-Enforcement Karachi for evading revenue through submitting fake invoices.
On the directives of Director Karachi Samina Wajid, Deputy Director Tauseef Gorchani coordinated with Lahore Intelligence Director Zulfiqar Yunus and Deputy Director Hoonaq Baloch for the arrest of accused.
According to details, information was received that Lahore-based importers M/s Sunder Trading Company are involved in huge evasion of duty and taxes on import of Sokkia brand surveying equipments of Singapore/Japan origin supplied by M/s Sokkia Singapore Positioning Sales Pte Ltd and M/s. Topcon Singapore by concealing the actual transaction value of the commodity through submission of fabricated invoices.
Shaukat Ali Nadeem Chief Executive of M/s. Sunder Trading Company and his son Faisal Nadeem are running the business and involved in monopolized import of under-reference equipments as being sole distributors of Singapore-based suppliers in Pakistan.
The surveying equipments were cleared by the accused at declared / assessed values manifold lower than the actual transaction / invoiced values causing a huge loss of revenue to public exchequer.
Scrutiny of relevant import data of surveying equipments revealed that during the period February, 2014 to November, 2016, 33 consignments of surveying equipments imported through Karachi Ports, Air Freight Unit by M/s. Sunder Trading Company, Lahore. Majority of the consignments were released on declared values through Customs Computerized System on self-assessment basis.
Efforts were made to trace out remission of proceeds to the foreign suppliers and notices were issued to almost all the scheduled banks to provide details of transaction. However, no proof of remission of proceeds through legal banking channels was revealed.
During monitoring, two consignments of surveying equipment bearing marks and numbers of Sunder Trading Company, Lahore imported in the name of M/s MMYZ International were identified after having been cleared through MCC, Appraisement (West), Karachi. The consignment was intercepted and detained at BOML off-dock terminal when same was ready for delivery while the 2nd consignment which had been delivered from BOML could not be located.
As per import invoice, which was presented to Customs along with GD, the import value of 156 sets of surveying equipments was declared at $11,360 equivalent to Rs1.2 million while the invoice pertaining to 59 sets of surveying instruments reflected declared value of the equipments at $1,305 equivalent to Rs137,867. Both the consignments were cleared at declared values.
In order to confirm the actual values of the goods declared at the pot of loading Singapore, the concerned shipping agents M/s. Seagull Shipping & Logistic confirmed actual transaction value of the equipments at Singapore dollar 308,667 equivalent to $217,126 against the declaration of $11,360 in respect of 156 sets and Singapore dollar 34,087 equivalent to $23,977 against the declaration of $1,305 in respect of 59 sets.
The suppressed and concealed dutiable value of equipments is accordingly worked out to $228,498 equivalent to Rs24.381 million and the evaded amount of taxes comes to Rs7.874 million. Since no proof of remission of proceeds is found, the case is investigated from the angle of money laundering.
It may be mentioned here that Director General Shaukat Ali has tasked Director Samina Wajid to keep strict vigilance on the cases of money laundering.