LAHORE: The Federal Board of Revenue (FBR) has attached Pakistan Mobile Communications Limited Jazz bank accounts for committing income tax default amounting to Rs. 5.7 billion.
It has been learned from credible sources that the Enforcement Zone of Large Taxpayers’ Office Islamabad initiated a major recovery action against the largest telecom company Jazz on Wednesday, and attached its bank accounts across the country for committing income tax default amounting to Rs. 5.7 billion.
It has been learned from credible sources that the Enforcement Zone of Large Taxpayers’ Office Islamabad initiated a major recovery action against the largest telecom company Jazz on Wednesday, and attached its bank accounts across the country for committing income tax default amounting to Rs. 5.7 billion.
Sources said that Jazz, previously known as Mobilink, was liable to pay Rs. 5.7 billion to the government exchequer by March 25th as its advance tax liability for the first quarter of the current tax year under the income tax law, however, the company evaded payment of its tax liability upon which FBR initiated the recovery action and proceeded to freeze its bank accounts.
Besides attachment of bank accounts to recover the evaded tax, recovery notices were also served upon franchises of Jazz in all major cities in Pakistan, to effect direct recovery from amounts which the franchises owe to Jazz.
It is pertinent to mention that under the Income Tax law, a tax default can be recovered by the Inland Revenue department from any third party holding money or assets in favor of the defaulter.
It is noteworthy to mention that this is the third major enforcement initiative taken by FBR against the telecom companies within a week after similar actions were taken against Telenor and Zong.
