FBR restores frozen bank accounts

KARACHI: The Federal Board of Revenue (FBR) has frozen bank accounts of four district authorities of Karachi City for defaulting an amount of Rs150 million on account of withholding tax deducted on award of contracts, official sources said on Thursday.

The accounts were restored later in the evening after the assurance from the district authorities for paying outstanding amount by December 16.

Regional Tax Office (RTO)–III Karachi- a revenue collecting arm of the FBR - attached the account of districts, including East, Malir, West and Central for accumulative amount of Rs150 million. The representatives of the four districts and the FBR authorities held negotiations and it was agreed that the local authorities would pay the entire amount in installments.