FBR to freeze bank accounts without warning  

ISLAMABAD: The Federal Board of Revenue (FBR) on Monday reinstated field formations with the power to freeze bank accounts of taxpayers for recovery of outstanding demand.

According to details, the tax department directed field formations of the withdrawal of directives pertaining to informing the taxpayer before freezing bank accounts under Section 140 of the Income Tax Ordinance, 2001 and Section 48 of the Sales Tax Act, 1990.

Earlier, the taxpayer was to be informed at least 24 hours prior the attachment of bank accounts.

On the other hand, the business community has shown concerns about rescinded instructions to inform taxpayers before taking action against them.

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Speaking with Profit, businessman Zeashan Merchant said, “Instead of gaining the confidence of taxpayers, the FBR is bent upon squeezing their pockets dry.”

 

 

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