Monday, October 25, 2021

Taxpayers’ bank accounts to be frozen without warning by the FBR

The Federal Board of Revenue (FBR) has repealed a provision that required tax officials to notify defaulters 24 hours before freezing their bank accounts, which tax lawyers described as harassment and a barrier to doing business. Former FBR chairman Shabbar Zaidi made it essential for tax collectors to notify defaulters prior to shutting their accounts, keeping the FBR chairwoman informed.

“I am further directed to state that the instructions referred supra are hereby withdrawn ab-initio in order to implement the law in its true spirit and to re-vest the power vested in the institution of the Commissioners viz-a-viz action under Section 140 of the Income Tax Ordinance, 2001,” Hammad Hussain Jaffri, Secretary Inland Revenue Operations FBR, said in an official notification on Monday.

“As a result, the field formations may utilize the rights conferred on them by SRO 274(1)/2020 dated April 2, 2020 and Section 48 of the Sales Tax Act of 1990 for the recovery of outstanding claims.” “This is issued with the Chairman’s permission, FBR,” the notification stated.

Related Articles

Pakistan wins the first ever Twenty20 match by ten wickets

Pakistan defeats India by 10 wickets in the first-ever T20 match at the World Cup.

India suffered its first ever humiliating defeat by ten wickets in the history of cricket

Pakistan has gotten off to a fast start in Dubai, thanks to Babar Azam and Mohammad Rizwan. After 7 overs, the pair had the...

Asad Umar believes that only private-sector-led development can propel Pakistan ahead

Asad Umar, the Federal Minister for Planning, Development, and Special Initiatives, expressed faith in the private sector to help Pakistan achieve economic viability in...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Pakistan wins the first ever Twenty20 match by ten wickets

Pakistan defeats India by 10 wickets in the first-ever T20 match at the World Cup.

India suffered its first ever humiliating defeat by ten wickets in the history of cricket

Pakistan has gotten off to a fast start in Dubai, thanks to Babar Azam and Mohammad Rizwan. After 7 overs, the pair had the...

Asad Umar believes that only private-sector-led development can propel Pakistan ahead

Asad Umar, the Federal Minister for Planning, Development, and Special Initiatives, expressed faith in the private sector to help Pakistan achieve economic viability in...

Today’s match between India and Pakistan will be broadcast live on PIA flights

The management of Pakistan International Airlines (PIA) has chosen to keep on-board passengers informed about Sunday's highly-anticipated T20 Worldcup match between India and Pakistan. Air...

Sindh planning to construct Pakistan’s first green hydrogen plant

According to sources, Pakistan's first green hydrogen plant would be built in Sindh, with a capacity of producing 150,000kg of fuel per day. Naheed...