Rs2.65bn recovered from a non-compliant taxpayer, says FBR
- Recovery pertains to outstanding Income Tax demand created against a taxpayer who failed to fulfill his statutory obligation, says Federal Board of Revenue
In a significant enforcement drive, the Corporate Tax Office (CTO) Lahore recovered Rs2.646 billion from a taxpayer who had “failed to fulfill his statutory obligations”, the Federal Board of Revenue (FBR) said in a statement on Wednesday.
“In a significant enforcement breakthrough aimed at strengthening tax compliance, the Corporate Tax Office (CTO) Lahore has recovered Rs2.646 billion in an enforcement action conducted by the CTO Lahore.
“The recovery pertains to outstanding Income Tax demand created against a taxpayer – who failed to fulfill his statutory obligations – after successful completion of assessment proceeding,” the FBR statement read.
“CTO Lahore successfully created not only a substantial amount of demand in a single case but also effected recovery following all the legal procedures professionally and in accordance with the applicable provisions of the tax law.”
According to a FBR report, the board was able to recover Rs874 billion from enforcement measures in the fiscal year 2024-25, against Rs105 billion in 2023-24.
The FBR has set a target of Rs389 billion under the head of enforcement measures during FY2025-26.
Comments
Comments are closed for this article.