KARACHI: The issues between the Federal board of Revenue (FBR) and District Municipal Corporations (DMCs) have been settled over the withholding tax after a long run.
According to the source, the FBR has released the funds and will unfreeze the accounts of the all six District Municipal Corporations (DMCs) soon. The FBR had frozen 32 bank accounts of all six DMCs for the recovery of the withholding tax amounting to Rs750 million, pending since 2014-15.
The FBR has returned the funds worth 66 million through a cheque of National Bank of Pakistan. The settlement held after a positive dialogue and table talk between both FBR and DMCs administration, source added.
