The Federal Board of Revenue (FBR) has identified a mega-scandal of clearing imported goods without the required documents. The goods, worth $80 million (over Rs220 billion), were cleared by forgery and deception.
FBR has formed a three-member team to probe into the scam.
The team will get to the bottom of how the goods were cleared without the required documents and who was involved in the scam.
The scandal came to light after a letter was sent to the DG Reforms and Automation Customs by the Reforms and Automation Customs team.
The letter blew the whistle on the fact that $80 million worth of imported goods were cleared without the required documents.
The letter pointed out that from July 1, 2022 to June 15, 2023, goods worth the amount were cleared by forgery.
The importers undervalued the prices of the goods by 25%, causing a hefty loss to the government exchequer in the form of taxes.
According to the letter, general terms of sale and delivery (GTS) worth $20.6 million were illegally filed during the importation of solar panels alone.
A list of all the importers involved in the fraud has been compiled and sent to DG Reforms and Automation Customs.
The FBR has said that it will come down hard on those found involved in the scam.
The inquiry team will submit its report after investigation.