FBR directs action against corporate tax defaulters

The Federal Board of Revenue (FBR) has ordered for penalties to be imposed on the corporate sector over non-filing of returns and recovery of undeclared income for the tax year 2020.

In this regard, the FBR has issued orders for all of its offices to collect fines from corporate taxpayers that failed to submit income tax returns.

It may be noted here that a large number of corporate taxpayers had failed to discharge their liability in the filing of income tax returns and payment of the due amount of duty and taxes in 2020.