Pakistan's FBR seals Sowears for tax evasion

The Federal Board of Revenue (FBR) has sealed several retail outlets of the clothing brand Sowears due to over Rs100 million in tax evasion. The company is now under investigation. The FBR's probe revealed Sowears failed to integrate its Point of Sale system, concealing income since 2018. This allowed the company to evade taxes and conduct undeclared business in the UAE and USA. Authorities suspect Sowears may have used illegal bank accounts and shell companies, potentially involving money laundering to facilitate these hidden international transactions.