Islamabad: According to news reports, the Federal Board of Revenue (FBR) announced on Monday (October 11) that it will block non-taxpayers’ bank accounts without warning.

Read More: POS Registration, FBR issues notices to tier-1 retailers

Non-taxpayers were previously required to be notified 24 hours before their accounts were blocked under Section 140 of the Income Tax Ordinance, 2001, and Section 48 of the Sales Tax Act, 1990, according to the study.

However, recent developments indicate that the FBR will not use the early warning system and will instead restrict accounts in order to collect tax amounts. Shabbar Zaidi, the previous Chairman of the FBR, created the early warning system to increase taxpayer trust in the system.

Read More: FBR launches system to document sales of big retailers

It was critical to notify taxpayers about the freezing of their accounts as soon as possible, and it was also necessary to notify the FBR chairman. FBR field units, on the other hand, would be able to freeze accounts without notifying the taxpayer or the chairman under the new instructions. On the other hand, the business community has expressed concern over the recent development.

Stay tuned with Tajarat Property for more updates or information about the top-notch real estate projects like Blue World City or Blue World City Islamabad.