ISLAMABAD: The Directorate of Internal Audit-Inland Revenue of the Federal Board of Revenue (FBR) in Karachi has detected a case of tax fraud involving a revenue loss of more than Rs1 billion and launched an investigation against the potential beneficiaries of this fraud.

The Karachi-based office of the internal audit lodged a First Investigation Report (FIR) against accused Nawab Zaman, who got sales tax registration on a fake company in FBR to commit the tax fraud on January 22, 2016.

An official of the audit department said that the accused person made a fake company named Tamnna Enterprises. Raids are being conducted for the arrest of culprits, he said, adding investigations have been launched on a massive scale to find the real beneficiaries of this fraud.

The case against the accused was filed in the court of special judge for customs, taxation, and anti-smuggling in Karachi under section 37 A read with section 37D of the Sales Tax Act 1990.

Published in Dawn,June 15th, 2022