FBR seals two sugar mills on agency’s report

Following a report of an intelligence agency, the Federal Board of Revenue (FBR) has sealed two sugar mills located in Central Punjab for serious breaches of statutory provisions. Taking action on the same report of the intelligence agency, the FBR had suspended six Inland Revenue officials, deputed at the mills. The enforcement action was taken following violations of Section 40C of the Sales Tax Act, 1990, read with Chapter XIV-B and Chapter XIV-BA, as well as Rule 150 ZQZE of the Sales Tax Rules, 2006, which prescribe mandatory monitoring, control, and compliance mechanisms for the sugar sector, FBR said. Prime Minister Shehbaz Sharif had directed Federal Board of Revenue (FBR), Federal Investigation Agency (FIA) and Intelligence Bureau (IB) to take joint action against sugar mills and dealers involved in tax evasion, undocumented sales, and price hikes in sugar sector.