Customs Intelligence & Investigation books Megaplus Pakistan in fiscal fraud
KARACHI: Director of Customs Intelligence & Investigation Karachi has lodged an FIR against Directors and partners of M/s Megaplus Pakistan for evasion of duty/taxes of Rs61.88 million through mis-declaration and concealment of values of imported consignments of IT equipment by way of submission of fake invoices.
Federal Board of Revenue (FBR) forwarded a piece of information containing analysis and data about various importers who are involved in under-invoicing of import of IT equipment etc. to the Directorate General of Customs Intelligence & Investigation-Customs for a detailed report in the matter.
Senate Standing Committee on Commerce and Textile Industry also sent the subject complaint to Directorate General of Post Clearance Audit (Customs) for conducting a comprehensive audit for the last five years.
Directorate General of PCA, Karachi, in the first instance, identified four importers of IT equipment including M/s. Megaplus Pakistan against whom huge detections of under-invoicing have been made. Reportedly, the importers hoodwinked the government to evade legitimate revenue through mis-declaration and under-invoicing.
Since vital import documents like actual invoices revealed mis-declaration of value by way of submitting fake/forged invoices by M/s. Megaplus Pakistan and contravention reports against M/s. Megaplus Pakistan regarding suppression of value and evasion of duty / taxes have already been submitted for adjudication proceedings on the basis of actual invoices.
Therefore, Customs Intelligence & Investigation established that M/s. Megaplus Pakistan have evaded duty / taxes through mis-declaration by way of submitting fake invoices and thence deprived the Government exchequer to its legitimate revenue to the tune of Rs.61.888 million.
FIR is lodged accordingly. Efforts for arrest the accused persons namely Syed Muhammad Asim Bukhari and Syed Muhammad Rashid Bukhari are underway. Further investigation is in progress.
An official said that cases would be lodged against other IT equipment importers would soon be lodged.