Thursday, June 28, 2012

FBR attaches PTA’s bank accounts for not paying 3.6B income tax

FBR attaches PTA's bank accounts for not paying 3.6B income tax
FBR attached all the bank accounts of PTA for not paying Rs. 3.6 billion income tax. As the budget approaches, FBR has started taking strict measure against all the tax defaulters including companies and Large Tax Units (LTU).
 According to an official release on FBR’s site, 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.
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. Revenue of Rs. 2.5 billion will be paid by Mobilink by 30th May, 2012 due to prompt recovery action by LTU, Islamabad
After FBR attached the bank accounts of Mobilink, it had released an official statement as under
Pakistan Mobile Communications Limited (Mobilink) has clarified that the FBR’s ruling on Sales Tax and FED is still sub-judice.
Mobilink is one of the largest corporate tax payers in Pakistan, and has always remained at the forefront of making its due contribution to the nation’s exchequer. In 2011 alone, Mobilink paid taxes amounting to PKR 34 billion.
Over its 17 year history of operations, Mobilink has remained committed to Pakistan, and respectful of all laws, including tax laws, which govern over Pakistan.

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