ISLAMABAD: The Federal Board of Revenue (FBR) has taken a significant step to enforce tax compliance and recover outstanding tax demands from Bahria Town (Pvt) Ltd.
The FBR has appointed six officers as receivers to recover arrears, including Muhammad Nawaz (Inspector), Adeel Raffique (LDC), Muhammad Sajjad (Inspector), Malik Khurshi Muhammad (LDC), Muhammad Haseeb Tahir (Inspector), and Mehtab Mehmood (Inspector).
The receivers will operate at three locations, which include the Bahria Town Head Office, the Central Business District, Phase 8, Bahria Town, Rawalpindi, the Bahria Town Corporate Office, Phase IV, Bahria Town, Islamabad, and the Bahria Enclave, Islamabad
The tax recovery efforts are focused on tax years 2020 and 2022. The FBR has not disclosed the exact amount of outstanding taxes, but the move is seen as a significant step to enforce tax compliance and recover arrears from major taxpayers.
The appointment of receivers is made under Section 138(2) of the Income Tax Ordinance, 2001, read with Rule 179 of the Income Tax Recovery Rules, 2002. This gives the FBR the authority to appoint receivers to recover outstanding tax demands from taxpayers.
The FBR’s move is seen as a significant step to enforce tax compliance and recover outstanding tax demands from major taxpayers. The appointment of receivers will enable the FBR to take control of Bahria Town’s assets and recover the outstanding tax amount. This action is likely to have a significant impact on the company’s operations and financial management.
The FBR has been taking various measures to improve tax compliance and recover outstanding tax demands from taxpayers. The appointment of receivers for Bahria Town is part of these efforts, which aim to ensure that taxpayers comply with tax laws and pay their fair share of taxes.
The FBR’s action against Bahria Town is a significant development in the country’s tax landscape. The appointment of receivers will enable the FBR to recover outstanding tax demands and enforce tax compliance. This move is likely to have a positive impact on the country’s revenue collection and tax administration.
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