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The Federal Board of Revenue (FBR), under the jurisdiction of Regional Tax Office-II, carried out a major operation and uncovered alleged tax evasion exceeding Rs 100 million by a well-known fashion brand. As part of the operation, four of the brand’s outlets were sealed.
In an official statement, the FBR revealed that the fashion brand was found involved in tax evasion of more than Rs 100 million. During a series of enforcement actions, FBR teams sealed four of its outlets.
The statement further claimed that the fashion brand Sowears was not only involved in tax evasion and concealing income, but also in undisclosed business activities abroad. Since 2018, the brand had deliberately avoided integrating its Point of Sale (POS) system with the FBR, resulting in a financial loss of over Rs. 100 million to the national exchequer.
According to the FBR, the sealed outlets included those located in Lucky One Mall, Dolmen Mall, Ocean Mall, and Saima Mall. Additionally, the team raided the brand’s factory situated in the SITE industrial area.
During the raid, business records and digital evidence were also seized by the FBR Regional authorities.
The FBR statement also disclosed that the brand was operating businesses in Dubai and the United States, and the income from these foreign ventures had not been declared in Pakistan. These undisclosed international transactions raised serious concerns regarding potential money laundering.
Furthermore, it was stated that the brand had transferred income into illegal bank accounts and secret companies. Investigations are currently underway under the Income Tax Ordinance and other applicable laws.
