KP Highway Authority: RTO recovers Rs1.2bn

ISLAMABAD: Regional Tax Office (RTO) Peshawar has recovered an amount of Rs 1.218 billion through bank accounts of KP Highway Authority.

According to the details, the amount recovered was based on audit for tax year 2017 and tax year 2018.

Earlier, the Federal Board of Revenue (FBR) issued recovery notices under section 138 of Income Tax Ordinance, against demand notices but taxpayer failed to deposit the same and filed an appeal before Commissioner Appeals, Peshawar but apeal was dismissed by Commissioner Appeals.

After dismissal of appeals the recovery was made under section 40 of Income Tax Ordinance, 2001.

Copyright Business Recorder, 2023