KARACHI: The Federal Board of Revenue-FBR has given a deadline to the Karachi Metropolitan Corporation and District Municipal Corporations (DMCs) to file their income tax returns and withholding tax (WHT) by December 15, 2016, otherwise the FBR would freeze their accounts.
According to the notification, FBR has restricted KMC and DMCs to ensure submission of income tax returns and withholding tax for the year 2016-17 till December-15, otherwise the FBR authorities have no option but to freeze all accounts of the two organizations.
It may be mentioned here that KMC and DMCs have millions of rupees outstanding amount in share of income tax and withholding tax to be paid to FBR authorities for the Fiscal Year 2016-17.
The KMC and DMCs after getting the notification from the FBR held several meetings in order to resolve the above-mentioned issue, as freezing of the accounts will put adverse impact on the sanitation condition of the metropolis.
It is pertinent to mention here that FBR also adopted the same practice last year in which the FBR had frozen the accounts of KMC and DMCs, hampering the civic activities of the metropolis. The employees of KMC and DMCs had been deprived of their salaries for several months, adding that the situation would again be deteriorated if KMC and DMCs delay the deposit of the outstanding amount within the stipulated time frame.
The sources informed Customs Today that City Mayor Wasim Akhtar would approach the FBR in upcoming days in order to discuss the said matter and resolve it as soon as possible.
