FBR Freezes Geo Group’s Accounts: ARY Report

The Federal Board of Revenue (FBR) has frozen Geo Group’s accounts for not paying their sales tax despite multiple notices issued to the group, claimed ARY News earlier on Wednesday.

According to reports from the news channel, the taxation unit of FBR has notified Geo group of the development, saying that the accounts will be restored following sales tax recovery.

The corporation had failed to pay sales tax amounting Rs 335 million which led the national taxation authority to take strict action in line with the Sales Tax Act 1990, section 48 1(b).

It states:

Subject to sub-section (1A), where any amount of tax is due from any person, the officer of Inland Revenue may:

require by a notice require in writing any person who holds or may subsequently hold any money for or on account of the person from whom tax may be recoverable to pay to such officer the amount specified in the notice;

Via ARY NEWS

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