The Federal Board of Revenue (FBR) has issued notices to Pakistan State Oil (PSO) and six other oil companies over the alleged underpayment of nearly Rs. 10 billion in petroleum levy, climate levy, and customs duties on imported petroleum products.
Express News reported that the companies deposited less than the amount payable based on the volume of petroleum products unloaded at their oil terminals. PSO received the largest notice, with the FBR claiming outstanding dues of around Rs. 8.20 billion.
Other companies served notices include Puma Energy, Pak-Arab Pipeline Company, Hi-Tech Lubricants, BE Energy Limited, Taj Gasoline, and Gas & Oil Pakistan Limited (GO).
The total alleged shortfall has been calculated at approximately Rs. 9.99 billion.
The tax authority said the companies’ declared payments for petroleum levy, climate levy, and customs duties did not match the import data available with the FBR.
According to the notices, Puma Energy and Pak-Arab Pipeline Company have been asked to account for Rs. 135.3 million, Hi-Tech Lubricants Rs. 116.8 million, BE Energy Rs. 250.6 million, Taj Gasoline Rs. 260.5 million, and Gas & Oil Pakistan Rs. 222.2 million.
The FBR has directed the companies to respond to the notices and settle any outstanding liabilities. It warned that failure to provide a timely response or make the required payments could result in legal proceedings under the applicable tax laws.
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