FIRs lodged against M/s Bakhshi Enterprises for fiscal fraud

  KARACHI: MCC Appraisement East has lodged two FIRs against Irshadullah Magsi of M/s Bakhshi Enterprises to clear high value garments/cloth in the garb of used clothing through submitting forged documents. Irshadullah Magsi of M/s Bakhshi Enterprises in connivance with agent M/s Alliance Shippers imported a consignment declared to be… Continue reading

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… Continue reading

Under-invoicing related money laundering: Cases of POP Global Distribution and Technosol referred to Customs I&I

KARACHI: The Directorate of Post Clearance Audit (PCA) has forwarded around 40 more cases to Customs Intelligence and Investigation (I&I) of under-invoicing related money-laundering and fiscal fraud. PCA 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… Continue reading

DG Customs Intelligence Zahid Khokhar due in Karachi

KARACHI: Director General Customs Intelligence & Investigation – FBR Muhammad Zahid Khokhar is visiting Karachi on Monday, primarily to look into the dispute within the Karachi Directorate that surfaced after allegations leveled by a Superintendent regarding involvement of Directorate’s officers in EPZ scam. Director General would also attend to certain… Continue reading

Several arrested for defrauding Pakistan Customs

KARACHI: MCC Appraisement East has detected revenue evasion of Rs8.2 million, and booked several accused for evasion of duties and taxes through submission of fake and forged documents showing under-invoiced and suppressed transaction value of the imported goods. Collector Saeed Akram had formed a team comprising Deputy collector Talha Salman,… Continue reading

More penalties imposed on toy importers for fiscal fraud

KARACHI: Collector Customs Adjudication Asif Marghoob Siddiqui has penalized certain cartel of toy importers for concealing the actual description of the goods to take an attempt for getting the goods assessed on suppressed values for evading government’s legitimate revenue. One order-in-original (ONOs) has been served on M/s Xing Enterprises imposing… Continue reading

Customs Intelligence Enforcement starts investigating beneficiaries of export incentive regime

KARACHI: Directorate of Customs Intelligence Enforcement Karachi has initiated investigations into the misuse of export incentive regime and affairs at Directorate of IOCO as well as account books of export-oriented industrial units enjoying these incentives will reportedly come under scrutiny. Directorate General of Customs Intelligence and Investigation–FBR consistently received complaints… Continue reading

Under invoicing case: SHC fixes Nov 16 for hearing

KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Muhammad Humayun Khan, on Thursday fixed Nov 16 to hear a petition filed by Saleem Ahmed of Rahat Impex against Chairman FBR, Collector Customs MCC, Port Muhammad Bin Qasim and Director Intelligence and Investigations…. Continue reading

Customs releases Euro 7.38 million filing line plant of M/s Master Beverages & Food

KARACHI: MCC Port Qasim has released the consignment of M/s Master Beverages & Food after recovering Customs duty of Rs170 million, while the company has deposited Rs300 million of fine/penalty with nazir of High Court. High Court of Sindh earlier disposed of a suit filed by M/s Master Beverages against… Continue reading

FIR lodged against M/s Master Beverages & Food Limited in a multi-million fiscal fraud case

KARACHI: MCC Port Qasim has finally lodged an FIR against M/s Master Beverages & Food Limited initiating criminal proceedings against the company pertaining to fiscal fraud. MCC Port Qasim has booked, CEO, directors of M/s Master Beverages & Food Limited and clearing agents M/s S.M SAdiq & Sons for mis-declaring… Continue reading