FBR recovers Rs4.5m from PHA frozen bank account

LAHORE: The Federal Board of Revenue has recovered Rs4.5million from the frozen bank account of the Punjab Highways Authority.

According to sources of Customs Today on Wednesday, a team of the FBR froze the bank account of the Punjab Highways Authority and recovered the said amount. Sources told CT that the FBR had served many notices on the Punjab Highways Authority for the payment of Income Tax for the year 2015 but the management did not pay any attention towards the notices.

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Now the FBR has deducted the amount of Rs4.5million from the bank account of the authority.

In another action, the FBR has also recovered Rs04million from the bank account of the RT Max. The FBR sources said the RT Max has been a defaulter of Rs10million.

The cloth manufacturing company RT Max has not a good record for the submission of tax returns. The FBR had already confiscated all the sales and manufacturing record of the company.

The RT Max is a defaulter of Rs10million as it didn’t pay the Sales Tax for the year 2016.