Five stores in Karachi were shut down by the Federal Board of Revenue (FBR) on Thursday for failing to deposit the tax collected with the government coffers.
The point-of-sale (POS) registered vendors in Karachi’s Tariq Road market were prosecuted by the FBR Corporate Tax Office Karachi for tax evasion, according to the details.
Five stores on Tariq Road were shut down by FBR officials for failing to deposit taxes in accordance with the Federal Board of Revenue’s standard operating procedure.
The owners of the sealed shops are charged with collecting sales tax from customers on each transaction connected to the POS but failing to deposit it with the national exchequer.
It is pertinent to mention here that the FBR has failed to achieve its tax collection target of Rs965 billion for December 2022, falling short of Rs225 billion.
