ISLAMABAD: The Federal Board of Revenue (FBR) launched a nationwide crackdown on tax evasion and fraud, resulting in the arrest of five individuals.
Speaking to media, FBR Spokesman Bakhtiar Muhammad said that the Chief Financial Officer of a prominent battery manufacturer has been taken into custody for his alleged involvement in over Rs. 1 billion sales tax fraud. The Chief Financial Officer of a major textile unit in Faisalabad was also arrested for his alleged involvement in millions of rupees worth of sales tax evasion, the FBR spokesman added. Bakhtiar Muhammad said that the third suspect was arrested for allegedly evading billions of rupees of tax fraud.
He said that suspects were arrested after bails were rejected by the court.
Earlier, Finance Minister Muhammad Aurangzeb Thursday revealed details of yearly tax theft in Pakistan.
The minister revealed that tax evasion in Pakistan stands at nearly Rs7,000 bln annually. He said steps are afoot to broaden the tax net and bring reforms to the tax system of Pakistan.
The minister also announced the ‘war against tax evaders’ in Pakistan and admitted all the burden of taxes is being beard by the salary class of the country. Aurangzeb also said they are trying to increase tax share in the economy to 13.5. It may be noted here that the FBR spokesperson earlier said that the body is all set to bring around 2.8 million potential households into the tax net that would contribute approximately Rs1.6 trillion to the national economy. –Agencies
