Different sectors involved in sales tax evasion worth Rs3.4 trillion: Aurangzeb

Finance Minister Senator Muhammad Aurangzeb and FBR Chairman Rashid Mahmood Langrial held a press conference to discuss a study on sales tax evasion in Pakistan. The study revealed that there is a massive sales tax evasion of Rs3.4 trillion out of a total Rs7 trillion tax theft in various sectors of the economy. The study found that many businesses misreport turnover, claim excess input tax, and use fake invoices to evade taxes. The government has intensified enforcement measures to combat tax evasion, including arrests and criminal cases. Those involved in tax fraud face imprisonment, heavy penalties, and fines. The FBR chairman warned CFOs to refrain from signing incorrect returns to avoid consequences.