Crackdown against fraudsters intensified

The Intelligence and Investigative Department of the Federal Board of Revenue (FBR) has detained five people engaged in the issue of fake and flying invoices, which caused billions of rupees in losses to the national exchequer. The top tax authority has intensified its crackdown on the organised mafia and beneficiaries involved in sales tax fraud in accordance with the FBR’s enforcement initiatives to improve tax compliance. Last week, FBR Chairman Rashid Mahmood Lang­rial stated that over Rs3 trillion in sales tax fraud occu­rred yearly, with the chief financial officers of large corporations conniving in this massive financial crime.