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FBR to tighten grip around commercial banks
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FBR to tighten grip around commercial banks

ISLAMABAD: Federal Board of Revenue has decided to tighten its grip around commercial banks and for this purpose, FBR may bring some changes in the laws and rules related with the banks.

Sources told Customs Today, that Member Operation Inland Revenue Federal Board of Revenue Khawaja Tanveer Ahmad held meeting with commissioners Inland Revenue from Karachi and all commissioners was complaining regarding the attitudes of the commercial banks and told him that commercial banks are not cooperating with Federal Board Revenue.

During audits banks are not providing any documents including the ledgers. Even banks failed to provide account wise withholding tax deduction statements.

During the meeting it was decided that no concessions will be given to the commercial banks regarding the tax revenue collections and for the effective implementation of the tax policy there will be bring some changes in the laws and rules of FBR relate to commercial banks.