LAHORE: The Pakistan Super League (PSL) management succeeded on Thursday in getting an adjournment for one week from the Regional Tax Office-II of the Federal Board of Revenue (FBR).
In reply to a notice served by the Federal Board of Revenue (FBR) on the Chairman of Pakistan Super League (PSL), the management appealed the officer of the withholding zone for the postponement of the compliance of the notice. As result, the FBR accepted the appeal and granted the PSL the adjournment for a week for the submission of all dates of three seasons of the PSL.
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According to the details, The Federal Board of Revenue (FBR), Regional Tax Office-II (RTO-II), Withholding Zone, was served a withholding tax notice on the Chairman Pakistan Super League (PSL).
Regional Tax Office-II (RTO-II) seeks information from the Pakistan Super League management under section 176 of the Income Tax Ordinance 2001 regarding the collection of tax under section 236A with respect to auction and bidding of franchises in Pakistan Super League (PSL) seasons one, two and three.
RTO-II Assistant Commissioner Amir Yasin sent the notice which was dispatched through Muhammad Nauman Khan, Inspector Inland Revenue, who is also a focal person regarding the case and responsible for the collection of all the information provided by the PSL management.
The FBR seeks that how much tax amount has been collected by the PSL management and why tax has not been deposited into the department.
The FBR, RTO-II, also seeks compliance from the Pakistan Super League management till 08th of June 2017. The department also warned the PSL management that it must comply with the notice within the due date otherwise FBR will receive tax with penalty.
