The Pakistan International Airlines (PIA) has had its bank accounts seized by the Federal Board of Revenue (FBR) for failing to pay taxes totalling Rs2.86 billion. In a letter addressed to the bank manager, Deputy Commissioner Inland Revenue Unit-02 Sharjeel Ahmed stated that the government dues of Rs2,864 million were outstanding against M/S Pakistan International Airlines NTN: 0803450 for multiple tax periods.
Under Section 14(3) read with Rule 60(1)(d) of the Federal Excise Act, 2005, the letter issued a notice for the attachment of the bank account, as well as any other bank account maintained against NTN: 0803450 of the defaulter maintained with the bank, until the amount of tax is paid or recovered in full.
The FBR’s move comes as part of its ongoing efforts to recover unpaid taxes from defaulters. PIA has had its bank accounts seized by the FBR in the past for non-payment of taxes, and the airline has faced financial difficulties in recent years due to a range of factors, including mismanagement, corruption, and a decline in revenue caused by the COVID-19 pandemic.
PIA is yet to respond to this latest development, but it is clear that the airline will need to take steps to address its financial challenges in order to avoid further action from the FBR and other authorities.
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