Islamabad (HRNW)- A tax evasion of Rs750 billion has been revealed in major business sectors of the country.
A private think tank, Prime, has released a report on illegal trade in Pakistan, according to which illegal trade includes tobacco, pharmaceuticals, tires, oil, petrol, diesel and tea.
According to the report, the share of illegal trade in the tobacco sector is 65 percent, causing an annual loss of Rs300 billion in revenue to the national treasury.
Two billion 80 million liters of petrol and diesel are smuggled from Iran annually, causing a loss of Rs270 billion in revenue. 40 percent of pharmaceutical drugs are fake or substandard, causing a loss of Rs60 to 65 billion to the national treasury in this regard.
60 percent of smuggled tires in the country result in tax evasion of Rs106 billion, while the sale of 30 percent of smuggled tea causes an annual loss of Rs10 billion to the country.
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