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 ONO to be issued against Coca Cola in Rs 90m tax evasion case

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PostSubject: ONO to be issued against Coca Cola in Rs 90m tax evasion case   Fri 19 Dec 2014, 11:46 am

KARACHI: The Collectorate of Customs Adjudication-I is going to issue Order-in-Original (ONO) against M/s Coca Cola Export Corporation (Pvt) Limited in its alleged involvement in evasion of legitimate duty/taxes, Federal Excise Duty (FED), sales tax and income tax amounting to approximately Rs 90 million.
The case was constituted by the Model Customs Collectorate-MCC Appraisement (West) in which it stated that the M/s Coca Cola was allegedly involved in tax evasion of legitimate duty/taxes by declaring incorrect PCT Heading in clearance of several consignments.
The authorities concerned of the MCC-Appraisement (West) in its contravention report stated that the M/s Coca Cola Export Corporation (Pvt) Limited has violated the provisions of Section 3(1)(b) and Section 12(3) read with serial number 41 of the Table 1 of the First Schedule List to the Federal Excise Act, 2005 in terms of importing consignments of flavouring substances for use in aerated beverages correctly falling under PCT heading 3302.1010 (HS) and chargeable to the FED at the rate of 50 percent ad valorem.
Several hearing after serving the show-cause notice to the M/s Coca Cola have been conducted before the Collector of Customs Adjudication-I and Order-in-Original would likely to be issued against the importer. It is pertinent to mention here that the Collectorate of Customs Adjudication-II has already issued the ONO against the M/s Coca Cola Export (Pvt) Limited in the month of October, in which the Collector Ahmed Mujtaba Memon imposed Rs 2 million fine penalty on the importer in its involvement in tax evasion tune to Rs80million approximately.
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ONO to be issued against Coca Cola in Rs 90m tax evasion case
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