ADVANCE TAX ! PTA more smart than FBR

According to  sources in Telecom industry PTA is trying to play smart with the winning companies of 3G/4G auction held on 23rd April. In a recently sent letter to all four companies it has been revealed that PTA has sent letters to telecom companies with the date of 22th April 2014. Telecom Authority declares them successful in bidding. The auction of 3G/4G held on 23th April and in the evening on same day the result was announced. The advice from Federal bureau Revenue issued three days after complete the process of bidding
Federal Bureau Revenue advised Telecom Authority to collect advance tax from winning companies 10% of total coast of spectrum. Its mean Mobilink will pay more US$30 million Zong will pay US$ 54 million Ufone and Telenor will pay US$ 14 million approximately.
This is an attempt by PTA to ensure that companies that have successfully won in the auction to pay 10% tax on their bids. All four companies have strongly reacted to this news and have urged PTA to backtrack on this. No information or notification was issued before to the companies or in IM that winning companies will have to pay 10% of their bidding money to FBR.
The four companies namely Zong, Mobilink, Telenor and Ufone will have to pay hefty sums of money should they have to.


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