KARACHI: The Federal Board of Revenue (FBR) has restored all the frozen bank accounts of four district authorities of Karachi.
The FBR’s Regional Tax Office–III had frozen the bank accounts of district authorities for defaulting an amount of Rs 150 million on account of withholding tax deducted on award of contracts, official sources have revealed.
The accounts were restored later after the assurance from the district authorities for paying outstanding amount by December 16.
The representatives of the four districts and the FBR authorities held negotiations and it was agreed that the local authorities would pay the entire amount in instalments.
The RTO–III attached the account of districts, including East, Malir, West and Central for accumulative amount of Rs150 million.
