Industry

FPCCI hails Chairman FBR for putting deterrent against attachment of Bank Account

Engr. Daroo Khan Achakzai hails Non Attachment of Bank Accounts without prior notice and Chairman FBR approval as well as hails Chairman FBR for putting deterrent against attachment of Bank Account

Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chamber of Commerce & Industry (FPCCI) has hailed the directive of the newly appointed Chairman, Federal Board of Revenue (FBR) Shabbar Zaidi, for not attaching the bank account of a taxpayer unless his Chief Executive Officer / Owner is informed at least 24 hours prior to attachment and approval of the Chairman FBR is obtained.

He informed that the FPCCI has been clamoring for long for keeping a deterrent against the misuse of discretionary powers by the tax officials for recovery of arrears and attachment of bank account under Section 48 of Sales Tax Act, 1990 and Section 140 of Income Tax Ordinance 2001.

The FPCCI Chief elaborated that there were increased incidences of bank account attachment and other serious coercive measures taken by the tax office under the garb of Section 48 for recovery of arrears and such abuse of powers were creating trust deficit and lack of confidence of taxpayers in law which are pre-requisite for the success of any scheme.

Engr. Daroo Khan Achakzai hoped that the directive would address the complaints of the business community about the unnecessary attachments of the bank accounts for recovery of the disputed accounts from the bank accounts of the taxpayers without fulfillment of the legal process. “In many cases accounts have been attached without prior notice of the CEO / principle officer owner of the business community”, he added.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close