LAHORE: Federal Board of Revenue (FBR) unearthed Rs1200 million withholding tax (WHT) evasion by Pakistan Railways and recovered Rs 52 million by attaching the bank accounts of Pakistan Railways, sources told Customs Today.
It was reported that the Pakistan Railways has evaded the withholding tax amounting to Rs 1200 million for the tax years 2011 to 2017 and FBR Larger Tax Payers Unit (LTU) recovered just Rs 52 million attaching bank accounts of Railways in various banks.
Sources said that the FBR has served various notices to the Railways administration urging them to pay their outstanding withholding tax, however, they paid no heed to it and finally the LTU recovered Rs52 million through attaching bank accounts of Pakistan Railways.
The sources said that FBR officials of LTU have further intensified operation in order to recover the millions of rupees withholding tax for the tax years 2011-17.
The FBR sources said that the seized accounts of FBR will remain confiscated till the Pakistan Railways pays outstanding withholding tax.
