Tax evasion case: NAB issues deadline to 5 telecom companies

In 47 billion rupees tax evasion case, the National Accountability Bureau (NAB) has issued notices to five telecom companies to appear before the investigation team on August 9, 2012.
On July 11, 2012 NAB summoned five telecom companies (National Telecommunication Corporation (NTC), Pakistan Telecom Mobile Company Ltd. (PTML), Telenor, Pakistan Mobile Communication Ltd. (PMCL) and Warid for recording of their statements in the case.
NAB has offered the option of Voluntary Return (VR) to these telecom companies and has given three days deadline to pay their liabilities along-with default surcharge and penalty as determined by tax authorities.
Through these notices the companies have also been informed that in case of failure, the option of VR will no more be available and they will have to opt for Plea Bargain with all punitive measures under NAB Ordinance.
NAB investigation team had taken over relevant record into custody from FBR’s Chief Commissioner Large Tax Unit.
On July 26, 2012, the investigation team of NAB had come across the startling information that payments of heavy fees were made to lawyers in the instant tax evasion case with assurance of positive results in favor of telecom companies.
Earlier on July 4, 2012, Chairman NAB took suo moto notice to safeguard Rs 47 billion for the people of Pakistan and asked Chairman FBR to appear in person to explain details about the defaulted amount.
In the instant case NAB had also recommended the names of three senior FBR officials for placement on ECL and has forwarded their names to Ministry of Interior. They include former FBR Chairman Mumtaz Haider Rizvi, Member Inland Revenue Shahid Hussain Asad and Chief Sales Tax/FED Abdul Sattar Aora.