FBR freezes bank account of leading telecom company
SOHAIL SARFRAZ
ISLAMABAD: The Federal Board of Revenue (FBR) has frozen the bank account of a leading telecom company on account of non-payment of sales tax and Federal Excise Duty (FED) to the tune of billions of rupees.
It has been learnt here on Monday that the action was taken by the Large Taxpayer Unit (LTU) Islamabad and the bank account of the company was attached for recovery of outstanding dues of sales tax and the FED.
The attachment of bank means that the tax department will be in a position to recover pending dues of sales tax and the federal excise duty (FED) from the concerned bank account of the company. Sources said that the FBR took the action under the enforcement drive for recovery of the un-paid tax dues by the involved companies. Under the Sales Tax Act 1990, the sales tax officials are legally empowered to attach the bank accounts for recovery of the outstanding dues.
Source: Business Recorder
Date:5/3/2011
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