Islamabad: The Federal Board of Revenue (FBR) has announced on Monday (October 11) that it will block non-taxpayers’ bank accounts without prior notice, news sources reported.
According to the report, the FBR was previously required to notify non-taxpayers 24 hours before their accounts were frozen under Section 140 of the Income Tax Ordinance, 2001 and Section 48 of the Sales Tax Act, 1990.
However, according to the most recent developments, the FBR will not employ the early warning system and would block accounts to collect tax amounts. The early warning system was implemented by the previous Chairman of the FBR, Shabbar Zaidi, in order to enhance taxpayers’ faith in the system. It was important to alert taxpayers about the freezing of their accounts early on, and it was also required to notify the FBR chairman before doing so. Following the new guidelines, however, FBR field units would be allowed to freeze accounts without alerting the taxpayer or the chairman. The business community, on the other hand, has expressed alarm over the recent development.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
