FBR detects under-invoicing on IT imports.
Islamabad -- Federal Board of Revenue (FBR) has detected under-invoicing on 17 goods imported from abroad, FBR officials informed Senate Standing Committee on Commerce and Textile said on Thursday.
The watch-dog is also making preparations to approach court against the importers who allegedly imported over 10 million dollars IT goods from abroad. The sources said that the banking channels were being monitored to detect what procedures they adopted to transfer money abroad and to check whether the procedure comes under the money laundering crime.
The revelation was made by FBR officials during Senate Standing Committee on Commerce and Textile meeting, lead by Senator Mirza Muhammad Afridi, at the Parliament House. FBR Jawad Awais Agha informed the meeting that as many as 17 importers were importing IT good through under-invoicing.
Following the reports about under-invoicing, the department has approached manufacturers for confirmation, adding that a letter has also been dispatched to Singapore High Commission in this regard, he added. Details regarding payments of the suspected companies have been sought from the manufacturing companies.
The letter also sought what procedure was adopted by importers from Pakistan to import IT goods. It is pertinent to mention here that no multi-national company deals...
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