Hey there! Big news alert: The Federal Investigation Agency (FIA) just cracked down on a massive tax fraud worth a whopping Rs 5 billion! Imagine that!
So, here’s the scoop: The FIA recently caught a private company owner and his son red-handed for allegedly dodging taxes worth billions. Yep, you heard it right!
The Federal Board of Revenue (FBR) spilled the beans on how this company cooked up fake sales records to skip out on paying taxes. Sneaky, huh?
Turns out, this shady business was centered around the steel industry in Karachi. The FBR dug deep and found out that these guys were up to no good.
Both the father and son were nabbed right in Karachi, with charges slapped on them faster than you can say “tax evasion.”
The FBR did some serious digging for three whole months and found out that the owner, Nawab Khan, was cooking the books big time. Fake receipts, fake invoices – you name it, they did it!
And get this: The company made a whopping Rs 13.88 billion in local purchases from December 21, 2023, to February 23, 2024. That’s a whole lot of dough!
But here’s the kicker: The FBR isn’t buying their excuse for a Rs 2.36 billion tax input claim. Something smells fishy, don’t you think?
So, there you have it, folks! A juicy tale of deception, greed, and a whole lot of drama. Stay tuned for more updates on this wild ride!
