According to Business Recorder, the Chief Financial Officers (CFOs) of businesses linked to sales tax evasion in Pakistan are allegedly dodging law enforcement out of concern that they will soon be apprehended by the Federal Board of Revenue (FBR).
This is the first time that senior executives engaged in similar fraudulent acts have been subject to legal action.
A well-known Faisalabad textile exporter recently deposited a sizeable amount for sales tax evasion, including penalties. According to sources, other CFOs are worried that if their colleagues who were engaged in similar fraud schemes are arrested, they might be next.
In order to avoid possible searches by the FBR’s enforcement division, which is stepping up efforts to shut down fraudulent businesses across the country, many of these CFOs have either run away or are hiding. These people are becoming more and more anxious.
