LAHORE: Federal Board of Revenue (FBR) has seized 10 accounts of Punjab Employees Social Security (PESS) and recovered Rs55 million tax liabilities.
According to details, PESS owed Rs75 million as tax liabilities from 2003 to 2006 and did not pay taxes. During this period, the Board had been corresponding with PESS to recover the payable tax amount, a source revealed.
An official said, “Despite repeated attempts, PESS was not ready to pay off its tax liabilities. The Board has now recovered Rs55 million confiscating the accounts of the organisation”.
Source said if PESS does not clear its tax liability, the Board would seize its other accounts to recover the arrears.