FBR Seals Sowears Outlets Over Alleged 100 Mn Tax Evasion

FBR Seals Sowears Outlets Over Alleged 100 Mn Tax Evasion

 

The Federal Board of Revenue (FBR) has initiated an investigation against Sowears, a popular Western clothing brand, over suspected tax evasion exceeding Rs100 million and undeclared global operations.

Authorities have sealed five outlets in Karachi, including branches at Lucky One Mall, Dolmen Mall, and Hyderi Market, citing non-compliance with taxation regulations. Since 2018, the brand allegedly failed to integrate its Point of Sale (PoS) system with the FBR network, concealing taxable income.

Further inquiries revealed unreported business activities in the UAE and USA, raising concerns of money laundering through undisclosed accounts and potential shell companies.

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