Federal Board of Revenue freez banks accounts of Pakistan Telecom Authority

ISLAMABAD (MEDIA)

Federal Board of Revenue  freez banks accounts of Pakistan Telecom Authority to collect tax revenue and Mobilink agree to pay 2.5 billion. The Large Taxpayers Unit (LTU) of the Federal Board of Revenue (FBR) on Tuesday attached all the bank accounts of the Pakistan Telecommunication Authority (PTA) to recover outstanding Rs.3.6 billion income tax liability.

According to an FBR statement, 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, but it failed to do so.

Accordingly, various teams were formed by Chief Commissioner of LTU Islamabad to recover the amount from the 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.

Meanwhile, the Pakistan Mobile Communications’ (Mobilink) has agreed to pay outstanding tax amount of Rs. 2.5 billion by May 30 by availing FBR’s Tax Surcharge and Penalty Waiver Scheme.

“The issue has been resolved amicably”, the FBR statement said.

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