FBR Freezes PTA’s Bank Accounts
FBR‘s drive for Tax Recovery has gathered momentum as after Freezing Mobilink’s Bank Accounts last week, FBR has now freezed all Bank Accounts of Pakistan Telecommunication Authority (PTA) due to an extravagant amount of outstanding Tax Liability.
A statement on Federal Board of Revenue‘s website is quoted below:
FBR in its ongoing campaign to recover outstanding tax liabilities against various companies, the Large Taxpayers Unit (LTU), Islamabad has attached all Bank Accounts of the Pakistan Telecommunication Authority (PTA) which owed Rs.3.6 billion to the exchequer on account of Income Tax.The PTA was served with recovery notice under Section 138(10 of the Income Tax Ordinance 2001), to deposit the outstanding liabilities by 28th of May 2012 which it failed to do so. Accordingly, various teams were formed by Chief Commissioner, LTU, Islamabad to recover the amount from PTA through attachment of bank accounts and its receivables from mobile operators, wireless local loop (WLL) operators, Long Distance & International (LDI) operators, land line (LL) operators and Ministry of Information Technology.
Update on Mobilink
A similar action was taken by FBR last week as it attached (blocked) all bank accounts of Mobilink. A statement release on FBR website reveals that the issue has now been resolved as Mobilink has agreed to pay the outstanding tax liability, it says:
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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