[Updated] FBR Freezes Mobilink’s Accounts
All Bank Accounts of Mobilink GSM have been attached and imports have been blocked due to mis-declaration of Sales Tax and FED by the Telecom giant. The matter had already gone to appeal and the Appellate Tribunal upheld the decision of Large Tax-payer Unit and confirmed that the has to pay Rs. 8.6 billion Tax.
A statement on the website of Federal Board of Revenue (FBR) reads:
Pakistan Mobile Communication Ltd (Mobilink) owed Rs. 8.6 billion to the exchequer on account of mis-declaration of Sales Tax and FED. The Income Tax Appellate Tribunal recently upheld the decision of LTU, Islamabad and confirmed the payable tax amount of 8.6 billion rupees.
On receiving the decision of the Tribunal, Syed Ijaz Hussain, Chief Commissioner, LTU, Islamabad formed various teams of officers headed by Commissioner, LTU, Malik Muhammad Ashraf to recover the amount from the company through attachment of Bank accounts, blocking of imports and recovery through suppliers of the company, which include other telecom companies as well as the Pakistan Telecommunication Authority.
As of today, all Bank Accounts of the Company have been attached and imports blocked accordingly. Further action will be taken by the next working day.
Mobilink has responded to FBR’s decision by this statement:
Pakistan Mobile Communications Limited (Mobilink) has clarified that the FBR’s ruling on Sales Tax and FED is sub-judice.
Mobilink is one of the largest corporate tax payers in Pakistan, and has always remained at the forefront of making its due contribution to the nation’s exchequer. In 2011 alone, Mobilink paid taxes amounting to PKR 34 billion.
Update
The issue has been resolved as Mobilink has agreed to pay outstanding Tax Liability. A statement released on the website of Federal Board of Revenue (FBR) reads:
Pakistan Mobile Communications’ (Mobilink) agrees to pay outstanding tax amount of Rs. 2.5 billion by 30th May, 2012 by availing FBR’s Tax Surcharge and Penalty Waiver Scheme. The issue has been resolved amicably.
About the Author
Bilal Sulehri (Editor - Gadgets & Reviews) is a geek who is pursuing Chartered Accountancy, loves football and is crazy about gadgets and technology. He has been writing since 2004 and maintains a personal blog at sulehri.com. He can be reached at bilal (at) sulehri (dot) com
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