Federal Board of Revenue completes five year tax audit of 69 Sugar Mills

Federal Board of Revenue completes five year tax audit of 69 Sugar Mills, says Adviser to Prime Minister on Interior and Accountability, Barrister Shahzad Akhbar.

He expressed these views, while addressing a news conference in Islamabad today (Saturday).

Federal Board of Revenue completes five year tax audit of 69 Sugar Mills

He further said the Federal Board of Revenue has completed five year tax audit of sixty-nine Sugar Mills.

Moreover, it imposed a tax amounting Rs 588 billion on them.

The Adviser pointed out that ten Sugar Mills have taken stays from different high courts against the tax audit.

He said the audit has contributed to doubling the tax revenue from Sugar Mills during the last fiscal year.

Furthermore, he said a fine of forty-four billion rupees also imposed on Sugar Mills for cartelization.

Shahzad Akbar said that track and trace system will be installed in sugar mills before the next crushing season.

That aims to determine their actual production and avoid tax evasion.

Shortage of petroleum products

He said that an inquiry conducted into the shortage of petroleum products last year.

The govt imposed fine on the oil marketing companies involved in the shortage of petroleum products.

Shahzad Akbar said that the government shut down 2000 illegal petrol stations.

That shut down has resulted in the increase of the sale of PSO.

Federal Board of Revenue completes

GTV