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The Federal Board of Revenue (FBR) Directorate of Intelligence and Investigation Inland Revenue, Islamabad, has arrested the bank manager of the First Women Bank’s Imperial Court Branch in Karachi in connection with a tax fraud case.
According to FBR sources, the accused opened a bank account in the name of a rickshaw driver for a fictitious company and deposited Rs 4.8 billion into it. The rickshaw driver was allegedly coerced into signing a checkbook in advance, which allowed the funds to be transferred to the beneficial owner, resulting in a loss of billions of rupees to the national treasury.
In the first week of November, the FBR exposed a major tax evasion scheme involving fake or “flying” invoices amounting to Rs 68.779 billion, orchestrated by a single firm. The operation, which involved individuals from various urban centers across the country, was reportedly carried out with the collusion of an official from the FBR’s subsidiary, Pakistan Revenue Authority Limited (PRAL) in Islamabad.
The FBR’s Directorate of Intelligence and Investigation further discovered additional fake company bank accounts on the accused’s mobile phone. The accused has been presented before the Special Customs Judge in Islamabad, where a request for physical remand was made.
The Directorate had registered a case against a private company after receiving complaints about billions of rupees in losses to the national treasury due to fraudulent sales tax invoices. Several arrests have already been made in connection to this case.
In a separate development, Prime Minister Shehbaz Sharif awarded Rs 5 million in cash to an FBR officer who uncovered a significant tax fraud attempt. Senior FBR officer Ijaz Hussain, who identified a fraudulent scheme involving billions of rupees in sales tax, was honored by the Prime Minister at the PM House. The Prime Minister praised the officer’s integrity and presented him with an honorary shield, emphasizing the importance of recognizing and encouraging honest officials.
Meanwhile, the FBR is facing a revenue shortfall of Rs 349 billion in the first five months of the 2024-25 financial year, against a full-year target of Rs 12,970 billion. In November alone, the FBR uncovered fraud cases amounting to over Rs 75 billion, related to fake invoices and sales tax claims. Additionally, the FBR’s system continues to experience revenue leakages in sectors such as cigarettes, beverages, iron and steel, and mobile phones.
