Islamabad: The Senate Standing Committee on Finance has asked the Federal Board of Revenue (FBR) to withdraw its instructions to block bank accounts of tax defaulters without prior notice, news sources reported.
The committee headed by Senator Talha Mahmood asked the board to withdraw the new instructions as they were deemed against the promotion of tax culture measures. According to these instructions given by the FBR on October 12, the board is no longer obligated to give 24-hour notice before blocking the defaulters’ bank accounts.
Additionally, the committee also addressed the subject of obligatory corporation tax payment using the digital payment system. It has been claimed that the approach will wreak havoc on the tax payment system because many firms are unfamiliar with it. In response, FBR members informed the committee that the action was taken to recover taxes that would not have been recoverable otherwise. To promote collaboration, the committee directed the board not to send out frequent alerts to companies.
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