KARACHI: The Federal Board of Revenue is going to officially ask the federal government for unpaid taxes outstanding against the Pakistan Steel Mills (PSM).
Despite notice issued by the Large Taxpayers Unit Karachi, the state-owned steel mills owes the country’s top revenue authority Rs2.45 billion sales taxes of last three years. The Appellate Tribunal-IR has also ordered the mills to defray an additional Rs76.4 million.
The official sources said that the FBR will ask the finance ministry for the recovery of Rs2.45 billion from the PSM. The mills managed to generate revenue, even after the halt in productions, through selling stocks from the available inventory.
