FBR to Freeze Non-taxpayers’ Bank Accounts Without Warning
Islamabad: The Federal Board of Revenue (FBR) has reportedly announced that it will block the bank accounts of non-taxpayers without prior notice.
FBR provides the most latest information on tax revenue and number of taxpayers.
According to the study, Section 48 of the Sales Tax Act of 1990 and Section 140 of the Income Tax Ordinance of 2001 required the FBR to provide a 24-hour notice to non-taxpayers before freezing their accounts.
According to recent developments, the FBR would instead block accounts to collect tax payments and will not employ the early warning system. Shabbar Zaidi, the previous Chairman of the FBR, developed the early warning system in order to boost taxpayers’ confidence in the system.
It was important to notify the FBR chairman in advance and promptly notify taxpayers of the freezing of their accounts.
Under the new guidelines, FBR field units will be authorised to freeze accounts without notifying the taxpayer or the chairman. On the other hand, the business community is frightened by the current situation.
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