SIALKOT: Federal Board of Revenue has achieved its recovery target of Rs 1.2 billion set for the month of June 2014 by imposing tax emergency in the region, as the Board has collected Rs 700 million in share of income tax and withholding tax and Rs 500 million as sales tax from the defaulters during this special recovery campaign launched in the Gujranwala region.
According to the senior FBR officials, the chronic defaulter Gujranwala Electric Power Company (Gepco) has paid its prolonged outstanding arrears of Rs 389 million to FBR as the Gepco had collected these dues from its customers in shape of sales tax and withholding tax.
A major defaulter beverage company has also deposited its outstanding dues of Rs 100 million as sales tax and National Savings Center has also deposited Rs 20 million as income tax to FBR in Gujranwala region.
Meanwhile, FBR has also issued the final recovery notices to all the small and big steel mill in Gujranwala region to ensure the early payment of their outstanding arrears, (worth millions of rupees). The government had levied 17 per cent sales tax on all the steel smelters and 4 per cent sales tax surcharge on every steel mill unit. But, they had not yet paid their outstanding dues worth millions of rupees.
FBR senior officials have also warned these units to clear their arrears; otherwise, FBR will freeze their bank accounts to recover their outstanding areas directly from their bank accounts.
