Islamabad:FBR in its ongoing campaign to recover outstanding tax liabilities against various companies, the Large Taxpayers Unit (LTU), Islamabad has attached all Bank Accounts of the Pakistan Telecommunication Authority (PTA) which owed Rs.3.6 billion to the exchequer on account of Income Tax.
The PTA was served with recovery notice under Section 138(10 of the Income Tax Ordinance 2001, to deposit the outstanding liabilities by 28 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 operators, Long Distance & International (LDI) operators, land line (LL) operators and Ministry of Information Technology.
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 30 May, 2012 due to prompt recovery action by LTU, Islamabad.