Seven Oil Companies Face Nearly Rs. 10 Billion in Claims
The Federal Board of Revenue has issued notices to Pakistan State Oil and six other energy companies over alleged underpayments on imported petroleum products.
The disputed payments include petroleum levy, climate levy and customs duties.
According to reports, the total alleged shortfall involving all seven companies stands at approximately Rs. 9.99 billion.
Pakistan State Oil received the largest notice. The FBR has claimed that PSO owes around Rs. 8.20 billion.
The tax authority reportedly compared the companies’ declared payments with petroleum import and unloading records available in its system.
It found differences between the amount of fuel unloaded at oil terminals and the taxes and levies deposited by the companies.
The notices do not represent final findings of tax evasion. The companies have been asked to explain the differences and respond to the allegations.
FBR Identifies Major Payment Discrepancies
The FBR said the declared petroleum levy, climate levy and customs duty payments did not match the relevant import data.
The authority calculated the alleged liabilities based on the volume of petroleum products received and unloaded at company terminals.
Puma Energy and Pak-Arab Pipeline Company were asked to account for an alleged shortfall of Rs. 135.3 million.
Hi-Tech Lubricants received a notice involving Rs. 116.8 million.
The FBR claimed that BE Energy Limited had an outstanding liability of Rs. 250.6 million.
Taj Gasoline was asked to explain an alleged shortfall of Rs. 260.5 million.
Gas & Oil Pakistan Limited received a notice for approximately Rs. 222.2 million.
The notices were also issued as part of the authority’s effort to reconcile petroleum import records with government revenue collections.
PSO accounts for the overwhelming majority of the total disputed amount.
Companies Ordered to Respond or Face Legal Action
The FBR has directed all concerned companies to submit formal responses within the required period.
They must provide records supporting their declared payments and explain any differences identified by the tax authority.
The companies may also be required to settle outstanding liabilities if the FBR’s calculations are confirmed.
The authority warned that delayed responses or failure to make required payments could lead to legal proceedings.
Further action may be taken under applicable customs and taxation laws.
The matter could result in additional assessments, penalties or recovery measures, depending on the outcome of the proceedings.
No detailed response from PSO or the other companies was included in the initial report.
The final liability will depend on documentary evidence, company explanations and the FBR’s review of the disputed transactions.
