NAB gives Telecom Companies three days deadline to pay their outstanding taxes. The National Accountability Bureau (NAB) has issued notice to five telecom companies that are including National Telecommunication Corporation (NTC), Pakistan Telecom Mobile Company Limited (PTML), Telenor Pakistan, Pakistan Mobile Communication Limited (PMCL) and Warid Telecom to appear before investigation team on 9th August 2012. Under Section 25 (a) of national Accountability Ordinance (NAO) 1999, NAB has highlighted the option to these telecom companies Voluntary Return (VTR) their liabilities that is a huge amount of Rs. 47 billion along with surcharge and penalty amount, said a NAB press release issued on Tuesday.
The NAB investigation team had taken over relevant record into custody from FBR’s Chief Commissioner Large Tax Unit. Only July 26, NAB investigation’s team had come across the starting information on payments of heavy fees to lawyers in the instant tax evasion case with assurance of positive results in favour of telecom companies. NAB has also recommended that the names of three officials of Federal Board of Revenue (FBR), including former secretary FBR, to be put on the exit Control List (ECL).
Earlier on July 4, 2012, Chairman NAB Admiral (R) Fasih Bokhari took suo moto notice to recover Rs. 47 billion from these telecom companies and asked Chairman FBR to appear in person to explain details about the defaulted amount.
