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Sunday, November 28, 2010

Rs31m duty evasion scam unearthed

currencypak 543x275 Rs31m duty evasion scam unearthed  
























The FBR announced that customs officials seized two consignments. — File Photo

ISLAMABAD: The Directorate-General of Intelligence and Investigation, Federal Board of Revenue, has unearthed a scandal involving dubious export of polyester products, valuing more than Rs31 million for evasion of duty drawback.

The FBR announced on Thursday that customs officials seized two consignments, comprising five containers in the dubious export of polyester cotton bed sheets, polyester printed fabrics and cotton dyed terry towel/polyester bathrobes, etc., by misdeclaring its description, classification, value and weight in the guise of export of valeur fabrics and cotton viscose fabrics which are high rebateable items.


The FBR says the seizure was made following a credible information received by the Directorate General Intelligence about involvement of Al-Fareed Fabrics (Pvt) Ltd Faisalabad and Pacific Textile Mills Karachi attempting to falsely declare export to the United Arab Emirates.

The Customs Intelligence staff intercepted three 40ft and two 20ft containers declared as printed valeur fabrics and cotton viscose fabrics under duty drawback claim in terms of relevant SRO exported by the textile mills of Faisalabad and Karachi. The examination of the five containers resulted in the recovery of polyester cotton bed sheets, polyester printed fabrics and cotton dyed terry towel/bathrobes etc. It is pertinent to point out that not a single piece of valeur fabrics, as declared in the `goods declaration`, was found in the five containers during examination.

The FBR says both the consignments, consisting of five containers and valuing more than Rs31 million, have been seized against proper documentation. The incidence of undue duty drawback, in the dubious export of five containers, has been worked out to be about Rs733,314.

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