The Federal Board of Revenue’s (FBR) Directorate General of Intelligence and Investigation (I&I), Inland Revenue (IR) has started an inquiry against a cosmetics company on allegations of tax fraud.
Sources said that the DG I&I-IR has started an investigation against Forvil Cosmetics, the makers of Bio Amla, for alleged involvement in tax evasion. The FBR has suspended the sales tax registration of the company.
Previously, FBR had frozen the bank accounts of Forvil Cosmetics Private Limited on allegations of tax evasion, which was being carried out by a family member of the managing partner. The department is also auctioning the company’s properties to recover pending taxes.
According to documents, the DG I&I IR Islamabad has written a letter to the directors of I&I-IR Lahore as well as Peshawar concerning the tax evasion by Forvil Cosmetics.
The FBR database revealed that the company is operating in areas falling under the jurisdictions of the Regional Tax Office (RTO) Islamabad and Peshawar as well as the Corporate Tax Office (CTO) Lahore. The Islamabad office has directed the regional officers in Lahore and Peshawar to furnish details.
Meanwhile, the Directorate I&I-IR Peshawar has requested RTO Peshawar to provide details of the last five years’ income, as well as sales tax audits, assessments, and recovery positions, so that the directorate can proceed with this matter.
