FBR detects 100 dummy firms in massive flying invoices scam

The Federal Board of Revenue (FBR) has found the alleged involvement of over 100 dummy companies in an organised racket for generating multibillion rupees fake/flying invoices of sales tax and in one instance, the tax authorities have registered an FIR for the revenue loss of over Rs10 billion.

It was one of the classic cases that demonstrates how efforts were made in connivance with others to cheat the system by using all kinds of forums. Now, the question arises as to how the sales tax refunds system was misused and why the PRAL failed to comprehend those involved in such alleged mega scams. Without the connivance of the department and especially this kind of ring barons cannot exploit the system. The culprits, who were allegedly involved in the tax frauds, were operating under the canopy of a law firm in the posh area of Karachi and one of the main accused was dismissed from the service by the FBR on corruption and misconduct charges in 2022.

Read more: https://www.thenews.com.pk/print/1149302-fbr-detects-100-dummy-firms-in-massive-flying-invoices-scam