The Federal Board of Revenue (FBR) has uncovered a fiscal fraud involving billions of rupees in the imports of solar panels.
According to official documents, the Directorate of Post clearance Audit (South) Karachi has registered a First Information Report against proprietor of Jeff Heights Hamza Ahmed and other partners of Hamza Enterprises Lahore on a number of allegations including evasion of duty/taxes by misuse of manufacturing status to avail illegal exemptions involving Rs. 22.45 million in 50GDs, illegal funds involving Rs. 1.62 billion in 678 GDs and clearance of solar panel on forged documents by way of illegal use of open accounts involving Rs. 380 million in 24 GDs.
The directorate of Post Clearance Audit (South) Karachi has unearthed a cartel of factitious entities that is associated in various illegal operations to clear solar panels by adding multiple business names on the NTN belonging to M/s Hamza Enterprises.
According to documents, the importer has allegedly evaded Rs. 22.4 million duty/taxes in 50 GDs by illegally claiming exemption on manufacturing status while being registered as distributor with the FBR.
The scrutiny of import clearances further revealed that 6 GDs of solar panels were illegally cleared on false/forged FI on open account basis thus entailing fiscal fraud, illicit financial flows and TBML.
The importer allegedly adopted a fraudulent modus operandi to clear containers on the NTN of M/s Hamza Enterprises. In addition, the accused importer also allegedly used a false IBAN number against all business names thus misusing WeBOC system/green channel that does not cross match IBAN number with the name of the business and only cross matches it with the NTN.
The cartel of above fictitious entities allegedly transferred import remittances worth Rs. 16.75 billion abroad while engaging in serious malpractices and irregularities with the aim of deceiving customs authorities.
In view of the above, it is evident that the accused importer has been operating as a factitious entity engaged in serious malpractices and irregularities with the aim of deceiving customs authorities.
The importer has committed serious violations involving misuse of the green channel, physical nonexistence, fraudulent addition of various business names on the NTN to clear solar panels illegally, deletion of business names from NTN after illegal clearance of solar panels to hide the crime, fraudulent clearance of solar panels on false/forged financial instrument by way of illegal use of open account, use of illicit funds to finance imports not commensurate with financial worth involving TBML, misuse of manufacturing status to evade duty/taxes, obstruction to audit through non production of records and violation of summon notice by non-appearance to substantiate genuineness of ownership thus violations the provisions of Customs Act and Income Tax Ordinance 2001.
People here have short memories…..but one only needs to go back less than 24 months to try figure out whose government it was and who the REAL culprits are.
I liked it as much as you did. Even though the picture and writing are good, you’re looking forward to what comes next. If you defend this walk, it will be pretty much the same every time.