Large Taxpayer Unit (LTU) of the Federal Board of Revenue (FBR) has unearthed a huge tax evasion scam in which the LTU-FBR established that a company had evaded tax to the tune of Rs21 billion while the overall tax evasion established till now amounts to Rs.100 billion in just past four months.
According to Karachi LTU Commissioner Girdhari Mal, Banks are on stay order against FBR’s lawful act of obtaining data from banks but still the FBR can access to any individual’s data in bank. Negotiations are underway with banks by the FBR for obtaining/provisioning collective data as required by the FBR.
He said that the LTU-FBR had collected revenue in form of taxes that amounted to Rs1200 billion in past one year. LTU was established in 2002 and its Karachi regional office is working as pioneer tax collection office where One-Window operation facility has already been ensured.