ISLAMABAD: Federal Board of Revenue (FBR) four field formations including Karachi and Hyderabad failed to deduct withholding tax worth Rs483.28 million from nine taxpayers.
Sources told Customs Today that Federal Board of Revenue directed these field formations to take action as per law to recover the loss and fix responsibility against officials at fault.
According to details nine taxpayers under the jurisdiction of four field formations including Regional Tax Office Karachi III, Large Taxpayer Unit II Karachi, Corporate Tax office Karachi and Regional Tax Office Hyderabad failed to deduct or short deducted tax.
It was required that field formations to initiate action under Section 161 of Income Tax Ordinance 2001 but the same was not done.
This resulted government to sustain a loss of Rs483.28 million. Regional Tax office Karachi II has failed to deduct Rs34.301 and Rs0.984 million from Mohammad Talha (King’s Real Estate) and M/s Thermec Engineering Company. While Large Taxpayer Unit failed to deduct withholding tax worth Rs340.653 and Rs1.092 million from M/s Galaxy Construction Private and Saleem Zaki.
Likewise Corporate Regional Tax Office Karachi failed to deduct withholding tax amounting to Rs6.604 and Rs2.234 million from M/s Al-Feroz Private Limited and J.H Private Limited. Regional Tax Office Hyderabad also failed to deduct withholding tax Rs85.178, Rs11.371 and Rs0.865 million from Mohammad Arif Memon, Muhammad Saleem Memon and Elegant Builder and Developers.
