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Five-year Tax Audit of 69 Sugar Mills Completed: Shahzad Akbar

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ISLAMABAD, Pakistan: The Prime Minister’s Advisor on Interior and Accountability Barrister Shahzad Akbar has said that the Federal Board of Revenue (FBR) has completed the five-year tax audit of 69 Sugar Mills and a tax of about Rs 588 billion has been imposed on them.

While addressing a news conference in Islamabad on Saturday, he pointed out that 10 Sugar Mills have taken stays from different High Courts against the tax audit.

The advisor said that the audit has contributed to doubling the tax revenue from Sugar Mills during the last Fiscal Year 2020-21. He said that a fine of Rs 44 billion has also been imposed on Sugar Mills for cartelization.

Shahzad Akbar said that the Track and Trace System will be installed in Sugar Mills before the next crushing season in order to determine their actual production and avoid tax evasion.

The prime minister’s advisor said that an inquiry was also conducted into the shortage of Petroleum Products last year and the fine was imposed on the oil marketing companies involved in the shortage of Petroleum Products.

The advisor said that 2,000 illegal Petrol Stations have been shut down which has resulted in the increase of the sale of Pakistan State Oil (PSO).

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