May 30

Income Tax: FBR freezes PTA accounts over Rs3.6 billion in dues

 The Federal Bureau of Revenue’s (FBR) Large Taxpayers Unit (LTU) froze accounts of the  (PTA) for outstanding liabilities amounting to Rs3.6billion.PTA

According to a notification issued on Tuesday, the FBR said that it has attached all bank accounts of the PTA for the amount it owed to the exchequer in income taxes.

The PTA was served with a recovery notice under Section 138(10 of the Income Tax Ordinance 2001, to deposit the outstanding liabilities by May 28, which it failed to do so.

The Chief Commissioner, LTU Islamabad formed teams 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 the Ministry of Information Technology.

Mobilink settles outstandings

Meanwhile, the Pakistan Mobile Communications’ (Mobilink) agreed to pay its outstanding tax amount of Rs2.5 billion (revised down from Rs8 billion) by May30, by availing FBR’s Tax Surcharge and Penalty Waiver Scheme.

The issue has been resolved amicably.