Auto dealers `premium money´ racket snags on FBR net
(WorldNews Business)

ISLAMABAD: Bookings of new cars in dealers name has emerged as a source of claiming billions of illegal advance tax refunds, aside from additional earnings from re-selling cars at a premium. Intelligence department of the Federal Board of Revenue is investigating cases where dealers of locally assembled cars have been found claiming advance tax from customers, even though they had already paid this tax at the time of booking. The same dealers, after collecting the amount from the customer, then went on to claim a refund from the tax authorities. The customer, on the other hand, ends up having to pay the advance tax one more time when they go to get their car registered because they do not...