The Federal Board of Revenue (FBR) has arrested two persons involved in fake invoices in the coal sector.
In an effort to curb the menace of fake and flying invoices, the Directorate of Inland Revenue Intelligence & Investigation, Islamabad arrested two persons u/s 37A of the Sales Tax Act 1990.
According to details, it was reported by reliable sources that an office has been set up in a residential complex located in Sector F-10 of Islamabad, involved in fake invoices making supplies of coal to cement factories.
The Directorate raided the office and registered an FIR against a tax fraudster for his involvement in commissioning tax fraud and causing loss of revenue to the tune of Rs. 95 million to the national exchequer by claiming/adjusting inadmissible input tax on the basis of fake invoices.
During the raid, the principal officer of the company could not be apprehended as he was not present in the office. The raids are being carried out in pursuit of locating him, and he will be arrested accordingly.
The accused were presented before the Special Court, Rawalpindi on Wednesday for securing physical remand which has been granted by the Court for seven days for further investigation. It is expected that details of other culprits involved in fake and flying invoices could be revealed during the investigation.