KARACHI: The Directorate of Intelligence and Investigation Inland Revenue of the Federal Board of Revenue (FBR) arrested a businessman from Hyderabad allegedly involved in tax fraud of millions of rupees, issuing of fake invoices causing heavy loss to exchequer in a countrywide move of FBR against tax defaulters.
In an FBR press release Directorate of Intelligence narrated that a businessman namely Muhammad Muhsin, resident of Hyderabad, showing him as manufacturer and owner of ‘M/s Uzma Plastic Works’ not only evaded tax but also caused millions of rupees loss to the national exchequer by issuing fake invoices to other persons.
Accused Mr Muhsin was presented before the Special Court of Customs and Taxation, Karachi, which granted five days physical remand for more investigation.
According to the official record, accused Muhsin has registered his firm ‘M/s Uzma Plastic Works’ as industry and defaulted millions of rupees in the cover of manufacturing unit, but when FBR team physically verified the area there was no industrial unit; accused also issued fake invoices to different persons which caused additional loss of millions of rupees to the exchequer. On Wednesday a special team, headed by Additional Commissioner Mumtaz Ali Thebo, arrested accused Muhammad Muhsin.