ISLAMABAD: Federal Board of Revenue (FBR) has created a tax demand of a whopping Rs469 billion against 81 sugar mills
The FBR had started its probe against 89 sugar mills after irregularities that were pointed out by the government made Sugar Inquiry Commission (SIC) back in 2020.
FBR said “We have created a tax demand of Rs404 billion against 61 sugar mills till 28th February 2021. The audit teams have created a tax of approximately Rs65 billion against 20 sugar mills, many of whose cases are still pending in courts”.
In the past two months of the forensic audit of sugar mills, FBR’s special teams have issued notices of Rs404.2 billion to 61 sugar mills. As per the SIC’s recommendations, FBR regional tax offices have kicked off an audit exercise of income and sales tax of sugar mills last year.
After going through the record of PTI’s Jahangir Khan Tareen owned JDW Sugar Mills, Ltd. from 2015 to 2019, the FBR audit team has created Rs 7 billion tax demand. “Tax demand notices are not served on these mills yet. This amount can go up after the audit team’s work is concluded,” said FBR.
The FBR also went through the record of RYK Sugar Mills that is owned by the family of Khusro Bakhtiar, Hashim Jawan Bakht, and Omar Shehryar, from 2015 to 2019, and has created a tax demand of Rs9 billion. Notices have not been issued as the matter is sub-judice.
The audit team also slapped a demand of Rs8 billion tax against Ramazan Sugar Mills and Chaudhry Sugar Mills that are owned by the Sharif family. The FBR has not found any tax liability against the Pirjo Goth Sugar Mills, Noori Sugar Factory, Consolidated Sugar Mills Ltd, SJ Sugar Mills Pvt Ltd., Southern Sugar Mills, Ghotki Sugar Mills, Sindhri Sugar Mills, and Najma Sugar Mills.