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ISLAMABAD: A leading mobile phone operator has deposited tax of Rs5 billion to the Federal Board of Revenue (FBR) following order of the Islamabad High Court (IHC), here on Thursday.

On Thursday, the IHC directed the company to deposit Rs5 billion tax to the FBR.

Total tax liability of Rs25 billion included principal amount of due tax and the penalty/default surcharge. The company had informed the court that they were ready to deposit a tax of Rs5 billion to the FBR.

According to the IHC order issued on Thursday, “let Rs5 billion be deposited by the company within three days, subject to the same, notices mentioned in the application and issued by the Large Taxpayer Office (LTO) Islamabad under section 140 of the Income Tax Ordinance 2001, shall remain suspended. The ad-interim relief granted is till next date of hearing i.e. December 2, 2020.”

When contacted, senior tax officials informed that earlier LTO Islamabad rejected their same offer of Rs5 billion upfront along with monthly installment for remaining balance of Rs20 billion by March 2022.

Copyright Business Recorder, 2020