FBR Lahore issues recovery notices to tax evading companies

LAHORE: Federal Board of Revenue (FBR) has issued recovery notices to the tax evading companies.

Sources told Customs Today that the FBR issued notice of recovery to the companies including M/s Azhar Energy Service Private Limited and M/s NC Power Company. FBR imposed tax on the companies after conducting their audit.

FBR sources said that M/s Azhar Energy Services Private Limited has evaded Rs10.27 million tax for the year 2015, M/s NC Electric Rs5.7 million while M/s Granage Power Private evaded Rs78 million for tax year 2017.

FBR has given deadline of September 17 for tax payment and after the date legal action will be taken against the companies that failed to deposit their outstanding taxes.

FBR expedited its efforts to recover the outstanding amount from the tax evaders to meet revenue collection target.