IR Lahore recovers Rs 620 million from single taxpayer

The Directorate of Intelligence and Investigation, Inland Revenue, Federal Board of Revenue (FBR), Lahore has recovered the largest admitted tax payment of Rs620 million from a single tax payer during the current financial year in any directorate of the FBR.
The directorate unearthed massive discrepancies in tax declarations of a leading motorbike manufacturer and recovered Rs620 million from him in a single day.
The taxpayer conceded its default and agreed to voluntarily deposit the amount into the government treasury after revision of Sales tax and Income tax returns for the tax period July, 2014 to June, 2018.
According to details, the directorate conducted a search and seizure operation at the business premises of the automobile manufacturer on 27th February, 2019. After thorough examination of the impounded record, the officers and officials of the directorate, confronted different discrepancies found in the taxpayer's declarations and record to the taxpayer's team.
Sources from the directorate of Intelligence and Investigation (Inland Revenue), Lahore said it would continue to conduct such actions in future on other automobile manufacturers who are involved with tax evasion.