FBR warns stern action against under-invoicing, mis-declaration

ISLAMABAD: Federal Board of Revenue (FBR) has decided to launch drive against manufacturers and importers indulged in under invoicing and incurring huge revenue losses to national exchequer.

FBR chairman Syed Shabbar Zaidi, in a statement, warned such manufacturers and importers to abstain from misdeclaration and under-invoicing.

The statement said that the smuggling was the greatest menace but under-invocing and misdeclaration of imported goods were also depriving the country from actual revenue collection.

The chairman warned manufacturers and importers that in case misreporting or under-invoicing was detected then stern action would be taken under relevant provisions of laws.

The statement said that smuggled goods have badly dented the local manufacturing. The prime minister noticed the huge quantum of smuggling and directed the authorities to take all measures to stop the menace.

In order to comply with the directives of the prime minister, Pakistan Customs enhanced the enforcement against illegal movements of goods.

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