ISLAMABAD: Collectorate of Customs unblocked the NTN of PIA after payment of pending installment of Rs70 million. PIA had to pay duty and taxes on import of three aircraft.
Sources told Customs Today that PIA imported three aircraft on dry lease which were released by Customs Collectorate (MCC) on advise of Economic Coordination Commission (ECC) to deliver the aircraft to PIA on monthly installments.
The sources informed that total amount of duty and taxes payable on the three leased aircraft was Rs1452.79 million while Rs1042.71 million was paid till 22nd March 2019 whereas Rs410.08 million was outstanding amount.
The sources added that considering the financial condition of company, PIA was agreed that payable amount would be made on monthly installments of Rs17.54 million, according to which demand notices were sent to PIA; however it failed to make a full payment almost every time due to which the remaining payment of installments accumulated to Rs147.74 million.
The sources told that MCC flouted notice of Rs147.74 million to PIA on 12 February, 2019; however no payment against the said demand was made due to which the National Tax Number (NTN) of the PIA was blocked on 20 March 2019.
