February 06, 2019
ISLAMABAD – The Federal Board of Revenue (FBR) has ordered the freezing of bank accounts of Independent Media Corporation (Pvt) Limited – that owns Daily Jang and Geo News Television.
FBR had served a notice on the corporation last month pointing out that sales tax for May 2007 to September 2007 amounting to Rs 53,014,683 was required to be paid as default surcharge and Rs 141,893,442 as a penalty.
On the other hand, FBR had directed the Independent Media Corporation to pay Rs58,735,016 as default surcharge and Rs 193,594,513 as a penalty for the period July 2004-June2006.
The organization had until January 31, 2019, to pay the default surcharge and penalty which it did not.
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