ISLAMABAD: The Federal Board of Revenue (FBR) has issued notice to the Pakistan Cricket Board (PCB) to clear its outstanding tax. The PCB generated revenue through Pakistan Super League (PSL) .
Sources told Customs Today that according to the rules, the PCB is liable to pay 34 percent tax on PSL income, but it deposited only 1 percent tax amount. In their notice, the FBR reminded the cricket board to clear outstanding tax amount at the earliest.
On the other hand, the FBR has frozen the bank accounts of the Punjab University Housing Society and recovered Rs 26.993 million. The Punjab University Housing Scheme is tax defaulter of Rs 42.7 million. The FBR issued it many notices but the society failed to pay taxes.
