Karachi: Federal Board of Revenue (FBR) in its aggressive drive of tax recovery is taking strict actions against defaulted companies, as it found out one of its target to freeze the all banks accounts of Pakistan Telecommunication Authority (PTA) for recover of outstanding Rs 3.6 billion.
The Large Taxpayers Unit (LTU), Islamabad has attached all bank accounts of the PTA which owed Rs.3.6 billion to the exchequer on account of Income Tax, according to official statement.
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 comply as against warning.
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.
Recovery action on Mobilink
Earlier this week, LTU Islamabad had attached bank accounts of Pakistan Mobile Communications’ (Mobilink) and blocked its imports to recover through suppliers of the company, which included other telecom companies as well.
Consequent upon Mobilink’s decision to avail Tax Surcharge and Penalty Waiver Scheme by FBR, the LTU Islamabad has agreed to resolve the issue of recovery of outstanding tax dues amicably, FBR statement said.
The revenue of Rs. 2.5 billion will be paid by Mobilink by 30th May, 2012 due to prompt recovery action by LTU, Islamabad however the remaining about of Rs 6.1 billion will be paid through installment later on with agreement of the revenue authority.
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