Islamabad: According to a recent news report, the Federal Board of Revenue (FBR) has instructed penalties to be imposed on the corporate sector over the non-filing of returns and recovery of undeclared income for the tax year 2020.
Read More: 7-month revenue collection target surpassed by FBR
In this regard, the FBR has issued orders for all of its offices to collect payments from corporate taxpayers that failed to submit their income tax returns.
Read More: Tax payments surpassing Rs.1 million to be paid online: FBR
It may also be noted here that a large number of corporate taxpayers had failed to discharge their obligation in the filing of income tax returns and payment of the due amount of duty and taxes in 2020.
For more updates and details, visit our website Property News.
