LAHORE: The Federal Board of Revenue (FBR) has recovered Rs 3.2 million after attaching the bank accounts of M/s Innovative Biscuits (Private) Limited.
According to the details, during scrutiny of tax record submitted by the company, it was revealed the management of M/s Innovative Biscuits failed to submit tax statement.
The FBR issued many show cause notices to the company to clear the outstanding amount but it failed to pay the pending taxes. After their failure, the FBR decided to freeze the bank accounts of the company. On Monday, the FBR attached the accounts which the company operates in Bank Al-Habib PECO Road Branch and recovered Rs 3.2 million. The company is allegedly involved in tax evasion of Rs 8 million while remaining amount is still pending against the company.
It is necessary to mention here that the FBR expedited their efforts to recover the outstanding amount from defaulters and for this purpose they are using all available resources. The FBR already issued many show cause notices to various companies involved in tax evasion.
