In an important development in the Federal Board of Revenue’s (FBR) regional tax office-I’s probe into one of the biggest frauds in the country’s history of Rs314 billion, sales tax registration of over 20 companies, allegedly involved in the fraud, has been cancelled, reported 24NewsHD TV channel.
Sources in the FBR told 24News that so far investigators had been able to trace 20 such companies.
The sources further disclosed that during the investigation, a network involved in the sale of fake sales tax invoices to people in Karachi and cities in Punjab had also been unearthed.
They explained that the investigation was fast-tracked following the registration of an FIR against the suspects.
They elaborated that the companies by committing the fraud wanted to get the amounts refunded.
The sources said they were able to identify the suspects after accessing the tax record.
They said further investigation was going on at a fast pace.
Reporter: Ashraf Khan