Printer Friendly

FBR stops freezing of bank accounts without his nod.

The Federal Board of Revenue (FBR) on Friday barred its field formations from freezing bank accounts of taxpayers without prior intimation aimed at minimising harassment of taxpayers, particularly at a time of shortfall in tax revenues.

The FBR headquarters has linked the freezing of bank accounts with prior approval of the FBR chairman and intimation to the accountholder at least 24 hours before freezing the bank account.

"No bank account attachment unless the taxpayer's CEO/principal officer/owner is informed at least 24 hours prior to the attachment and the FBR chairman's approval is obtained," said the instructions that the FBR headquarters sent to its 23 field formations.

COPYRIGHT 2019 Knowledge Bylanes
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Federal Board of Revenue
Publication:Pakistan & Gulf Economist
Article Type:Brief article
Geographic Code:9PAKI
Date:May 19, 2019
Words:144
Previous Article:Basmati body calls for increasing rice exports to $5bn.
Next Article:PKR weakens to 142.7 against $ in open market.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters