Pakistan accuses pharmaceutical companies of malpractice
June 30, 2010
The Federal Board of Revenue (FBR) in Pakistan believes pharmaceutical companies have used transfer pricing to evade Rp500 million ($5.8 million) in taxes.
Reports have emerged of audits being conducted of 12 leading pharmaceutical companies by the large taxpayers unit (LTU) in Karachi . Some of the companies involved are Smith Kline and French of Pakistan Limited, Pfizer Laboratories Limited, Sanofi Aventis Pakistan Limited and Reckitt Benckiser Pakistan Limited.
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