HASCOL denies involvement in alleged tax fraud of Rs.3.9 bln

By MG News | April 30, 2019 at 10:11 AM GMT+05:00

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April 30, 2019 (MLN): Hascol Petroleum Limited has firmly denied its involvement in an alleged tax fraud of Rs.3.9 billion, reported by a known local news website agency, saying that the news was spread to malign the company’s name and it’s growth.

The news website claimed in an article yesterday, that Hascol Petroleum has evaded sales tax worth Rs.3.6 billion and further tax amounting to Rs.279 million, potential proof of which lies with the new agency’s parent company.

In an official statement earlier today, Hascol has notified its intention to take strong action “against any allegations levied against the Company” adding that it is “also initiating legal action against the news agency and its correspondent.”

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