PCA Karachi unearths massive revenue evasion by IT equipment importers

KARACHI: Directorate of Post Clearance Audit (PCA) has served a total of 148 Contravention Reports on nine companies involved in under-invoicing, mis-declaration and money laundering on import of IT equipment and computer products.

The Federal Board of Revenue (FBR) had advised all field formations to take action against money-laundering. Director PCA Karachi Ashraf Ali took the lead and launched an efficient campaign against trade related money laundering.

High profile officers at PCA including Additional Director Farrukh Sajjad, Deputy Director Shoib Raza, Appraising Officers Dolat Khan, Sultan Watto and Adnan Zawwar conducted a comprehensive audit of the imports of IT equipment and computer goods and detected over 500 cases of under-invoicing and mis-declaration.

So far 148 contraventions have been served on several importers involving revenue evasion of Rs669.204 million. Companies found involved in this dirty business include M/s Megaplus Pakistan, M/s Unique Technologies, M/s Technosol Private Limited, M/s Micro Innovations & Technologies, M/s Spectra Innovations Pakistan, M/s Viper Technology Pct Ltd, M/s Decent Computers, M/s Pop Global Distribution and M/s Pako Computers.

PCA Karachi has now expanded its circle of audit and scrutiny to the imports from Air Freight Unit (AFU) and large scale irregularities are likely to be unearthed.

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