Aurangzeb unveils punishments for corporate tax evaders

ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Thursday that big companies are responsible for about half of the total tax evasions, which amount to Rs3.4 trillion, and warned chief financial officers (CFOs) of these companies not to sign incorrect returns to avoid severe punishments.

Addressing a press conference along with Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial, the finance minister divulged on the action plan against tax evaders, including up to 10 years in jail and heavy fines and penalties.