ISLAMABAD: At least 17 field formations of the Federal Board of Revenue (FBR) and 428 withholding agents did not deduct tax while making payments on purchase of goods, resulting in loss of Rs 14.47 billion to the national exchequer.
According to the documents available with Customs Today, the irregularity resulted in non-realization of tax amounting to Rs14,474.60 million. The documents revealed that M/s APNA TV Channel (NTN 2140645) did not deduct tax while making payments on account of sales of goods or supplies and services for last tax year, which resulted in loss of Rs 70.80 million.
The documents showed that M/s Getro Power Limited did not deduct tax while making payment on account of sales of goods or supplies and services for last tax year which resulted in loss of Rs 252.36 million. The FBR has directed all the field formations to initiate legal proceedings for charging tax of Rs 14.47 billion and internal controls may be strengthened to avoid recurrence of such irregularities in future. The FBR has also decided to fix the responsibility on the persons at fault.
