FBR refuses to write off PIA's tax liabilities : vimarsana.c

FBR refuses to write off PIA's tax liabilities


FBR refuses to write off PIA’s tax liabilities
Business
April 20, 2021
KARACHI: The Federal Board of Revenue (FBR) has refused to write off tax liabilities of Pakistan International Airlines (PIA) and reconciliation is a prerequisite to the proposed restructuring of the airline that posted around Rs35 billion losses last year, according to people familiar with the matter.
The PIA is required to pay an outstanding amount of multiple years to the FBR, sources said on Monday.
“Rs14 billion that doesn’t include late payment penalty is payable under federal excise duty (FED),” said a source. “The amount would be much higher if penalty five-time the FED payable is included.”

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