FBR launches crackdown on sugar industry tax evasion

MG News | November 30, 2023 at 10:20 AM GMT+05:00

0:00

November 30, 2023 (MLN): Monitoring teams from Field formations of the Federal Board of Revenue (FBR) have been deployed to sugar mills across the country to curb tax evasion in the sugar industry, according to a press release issued on Wednesday.

Sugar is one of the notified products on which monitoring or tracking of production, sales, clearances, stocks, or any other related activity is implemented.

Affixation of tax stamps is mandatory on each and every bag of sugar produced or supplied violation of which is a punishable offense under section 33(23) of the Act and liable to confiscation of products.

Furthermore, the defaulter upon conviction can also face imprisonment for up to 03 years.

Any effort at evasion of sales tax on sugar shall be dealt with iron hands and Mill owners will be prosecuted for the offense.

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