KARACHI: The Federal Board of Revenue has asked the companies to stop trading with a non-taxpaying company.
The tax authority in the metropolis has recently urged the buyers of goods from a tax-defaulted company. The said company owes more than two billion rupees in tax payment.
According to a tax official, the tax officials have taken all the measures to recover the (said) amount, including freezing the bank account. “But, the amount could not be recovered due to insufficient balance in the account,” he said.
The official said the amount was still not recovered through this measure due to a stay order from a court, but the defaulted company agreed to negotiate on the tax liability.
The officials said the Federal Board of Revenue (FBR) is facing a shortfall in revenue collection and therefore weighing various strategies to recover the tax arrears. They added that a meeting between all chief commissioners/commissioners with the Member Inland Revenue (Operation) is scheduled on October 18 to discuss the viability of tax recovery drives.
