Customs blows the lid off tax frauds involving billions

KARACHI (April 23, 2010): The R&D wing of Pakistan Customs has blown the lid off tax frauds of billions of rupees committed by prominent importers of auto parts, chemical and steel, it is learnt. Sources told Business Recorder on Thursday that the action was taken on a tip-off, which revealed that a large number of importers are involved in tampering of Goods Declarations (GDs) to clear import consignments at nominal duties and taxes through Pakistan Customs Computerised System (PaCCS).