FBR files case against owners of ‘fake company’

KARACHI: The Federal Board of Revenue (FBR) on Wednesday filed a case against the owner of the company ‘K H & Sons’, Kamal Mohammad Kashif and Mohsin Ali, for allegedly being involved in the largest tax fraud case in the country’s history of Rs 314 billion.

Sources within the FBR revealed that efforts are underway to apprehend the nominated suspects who were allegedly involved in conducting businesses through fake invoices.

As per FBR spokesperson, the mastermind, Kashif, and his partner were showing sales of iron and steel thought-out the country by creating fake invoices. The authorities are also looking to apprehend 15 more individuals involved in the network.

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Sources told that the tax fraud was detected by the Director-General Internal Audit Inland Revenue team. The K H & Sons company only existed on paper and is registered with a benami individual Muhammad Kashif.

The fake company’s documents showed it was running the business of iron and steel, whereas, it mentioned addresses of Liaquat Market, Agri Market and M A Jinnah Market. Sources revealed the name of the fake company was used for different illegal activities. – INP