KARACHI:
The Directorate of Internal Audit-Inland Revenue-FBR Karachi has detected mastermind and actual beneficiary in a case of tax fraud of Tamna Industries. The FIR No:01/2022 used to be lodged on this case on June 14, 2022.
The mastermind is Sheikh Shahzad Ilahi who opened and operated financial institution accounts of Tamna Industries at the faux title Nawab Zaman.
Shaikh Shahzad Ilahi misused the CNIC of Nawab Zaman a deficient labourer and opened a pretend corporate within the title of Tamna Industries.
Tamna Industries has proven faux and bogus gross sales to layer firms concerned on this chain of fraud to provide final tax advantage of billions of rupees to Century Industries Pvt LTD who’re the producers of famend Phoneix Batteries in Pakistan.
The CEO of Phoneix Batteries, Jawed Iqbal Sidiqui could also be nominated as a beneficiary on this fraud.
Further investigations are underway.
Published in The Express Tribune, August 14th, 2022.
Source Link: https://tribune.com.pk/story/2371036/clue-to-mastermind-in-tax-fraud-found