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ISLAMABAD: Large Taxpayer Office (LTO) Islamabad has directed banks to attach bank accounts of the Utility Stores Corporation (USC) on account of non-payment of sales tax arrears.

The LTO Islamabad has issued recovery notices to all relevant banks for the attachment of the bank accounts of the UTC all over the country.

The government dues amounting to Rs8,198,910,711 are outstanding against the said taxpayer.

The appeal of the tax defaulter has been dismissed by the Appellate Tribunal Inland Revenue. The taxpayer has also been issued recovery notices for the outstanding amount of sales tax, but the arrears of sales tax are still recoverable, the LTO Islamabad maintained.

Banks should also provide bank statements including closing balance immediately at the time of receipt of this letter, the LTO Islamabad added.

Copyright Business Recorder, 2023

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Tariq Qurashi Oct 18, 2023 10:54am
Pakistan must be one of the few countries in the world where a tax official can get access to and extract money from bank accounts without a court order. In my opinion this gives these kinds of officials too much power. And then we wonder why foreign investors don't flock to Pakistan to invest?
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Ahmed Saeed Oct 18, 2023 10:11pm
What exactly would the LTO achieve?
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