105 ONOs served on three importers ordering recovery of Rs277 million, penalty Rs65 million

KARACHI: Customs Adjudication has served 105 orders in original (ONOs) ordering a tax/duty recovery of Rs279 million along with a penalty of Rs65 million on importers including M/s Indus Trading, M/s Syed Business Solutions and M/s Decent Computers.

The above mentioned importers were involved in revenue evasion through under-invoicing on the imports of computer products and IT equipment.

Collector Customs Adjudication Iqbal Bhawana issued 27 ONOs creating a recovery of Rs208.8 million of evaded duty/taxes and also imposed a penalty of Rs49.5 million on M/s Indus Trading, M/s Syed Business Solutions and M/s Decent Computers.

Similarly, Additional Collector Customs Adjudication Shahid Abbasi served 25 ONOs on the above mentioned importers ordering recovery of Rs47.75 million worth of evaded revenue along with a penalty of Rs11.4 million. Deputy Collector Customs Adjudication Imran Afzal Lillah passed 53 orders in original (ONOs) involving duty and taxes recovery of Rs20.09 million and also imposed a penalty of Rs4.3 million.

PCA Karachi initiated scrutiny and analysis of last five year data comprising FIRs lodged for under-invoicing, mis-declaration and over-invoicing, Order-in-Originals and Contravention Reports served on importers and traders. Subsequently, Contravention Reports were served on importers and forwarded to Customs Adjudication for further proceedings.

As many as 105 cases had been forwarded to Customs Adjudication by PCA Karachi from October 2020 to January 2021.

Earlier, PCA Karachi had detected similar nature of mis-declaration, under-invoicing and money-laundering by many importers M/s Megaplus Pakistan, M/s POP Global, M/s Technosol and several others causing loss of hundreds of millions rupees to the national exchequer.

Ministry of Finance had reportedly assigned Directorate of Post Clearance Audit (PCA) to detect under/over invoicing and mis-declaration, and forward these cases to Customs Intelligence and Investigation for proceedings under money laundering law.

The PCA several importers involved in revenue evasion through under-invoicing on the imports of computer products and IT equipment. These companies evaded hundreds of millions rupees through mis-declaration and under-invoicing.

Moreover, it is learnt that cases will be handed over to the Anti Money Laundering Unit supported by evidentiary material. Billions of rupees are allegedly siphoned by dozens of importers/petitioners and the scam is stated to be biggest ever detected by PCA.

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