ISLAMABAD: The Federal Board of Revenue’s Directorate General of Customs Post Clearance Audit has unearthed case of massive under invoicing and trade based money- laundering in the case forwarded by Chief Collector of Customs Appraisement South Karachi.
An official handout issued by FBR here on Satursay gives the detail of the case. It said an importer based in Lahore imported goods by declaring values massively less than actual values.
The ixporter of the goods in a foreign country has confirmed that invoice value declared by the importer was grossly under-invoiced and actual invoices have not been declared with customs instead fake and tempered invoices have been presented.
After detailed audit and investigation into the case, an FIR has been registered against the importer. The duty and taxes evaded in the case are to the tune of Rs 186 million.