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ISLAMABAD: The government on Thursday reported more than Rs2.2 trillion worth of tax evasion through ‘fake’ and ‘flying’ invoices over the past two fiscal years, highlighting the massive scale of loss of public monies due to weak enforcement.

Testifying before the Senate Standing Committee on Finance and Revenue, Federal Board Of Revenue (FBR) Member Hamid Atique Sarwar said that more than Rs873bn in ‘fake’ and ‘flying’ invoices had been unearthed last year, on top of Rs1.37 trillion a year earlier, taking the total to Rs2.25tr in two years.

“This is almost one-third of the total” tax collected on the customs side, he said in response to calls from the business........

© Dawn Business