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FIA asks CBR to provide details of SROs issued during Farid's tenure

SOHAIL SARFRAZ

ISLAMABAD: Federal Investigation Agency (FIA) has asked Central Board of Revenue (CBR) to provide complete details of SROs issued during the tenure of Mian Iqbal Farid, former CBR Chairman, it was learnt.

The FIA has demanded SROs relating to income tax, wealth tax, capital value tax, capital assets tax, central excise duty, sales tax and custom duty.

The CBR will also furnish the financial implications of these SROs so that it could be assessed as to how much the government has suffered financial loss through these SROs.

The agency is also collecting addresses of beneficiaries of these SROs.

Sources told Business Recorder that FIA has initiated investigation to check the violation of the customs, Sales Tax Acts and Income Tax Ordinance through notifications issued during the tenure of former CBR Chairman.

The exact amount of financial benefit will also be submitted to the FIA.

The Board has been asked by the FIA to submit detailed report on these SROs and also describe the nature of these notifications.

All the departments of CBR were busy in preparing lists and information relating to SROs issued during the tenure of former CBR Chairman. The senior officials were examining all the notifications issued during the period of November 7, 1998 and November 6, 1999.

The CBR is also furnishing names and address of those individuals, parties and companies who benefitted from these notifications.

The Board will also provide the names of officials under whose authority these SROs were issued.