SIALKOT: The Federal Board of Revenue (FBR) has given Rs 400 billion tax recovery target to the Regional Tax Offices (RTOs) at Sialkot and Gujranwala.
The RTOs will collect Rs 200 billion in the shape of income tax and Rs 200 billion in the shape of sales tax and other taxes. The FBR has instructed both the RTOs to achieve the given target before June 30, 2016.
FBR has strictly directed both filed formations to take better steps for the recovery of taxes from all defaulter government and private institutions. The both offices have constituted 53 teams for recovery of taxes, besides assigning targets to all team separately.
The board has also imposed Section 40 B of the tax act for the purpose of recovery and this will be imposed till June 30, 2016.
The both RTOs have appointed officers at big factories whereas they have started freezing bank accounts of industrial units in order to recover taxes. The notices have also been served on people those who have purchased luxury vehicles, plots, bungalows etc. in posh areas.
