FBR Arrests CFOs of Two Textile Companies for Alleged Tax Fraud
In a significant development, the Directorate of Intelligence & Investigation-Inland Revenue in Faisalabad has arrested the Chief Financial Officers (CFOs) of two textile manufacturing companies based in the region. They are charged with abetting and conniving in Sales Tax fraud by submitting claims for fake input tax on coal.
The fraudulent activities, which involved a network of fraudsters, have resulted in a revenue loss amounting to multi-millions of PKR to the national exchequer. An FIR has already been registered against the suppliers, beneficiaries, and other accomplices involved in this scheme.
These arrests are part of a nationwide crackdown on sales tax fraud and align with the Federal Board of Revenue’s (FBR) enforcement measures aimed at improving tax compliance across the country.
