PAKISTAN HOSIERY MANUFACTURERS & EXPORTERS ASSOCIATION

37-H, BLOCK-6 P.E.C.H.S., KARACHI-PAKISTAN

TEL: 0092-21-34522769, 34522685, 34544765 FAX: 0092-21-34543774

E-MAIL: info@phmaonline.com   URL www.phmaonline.com

Ref. No. PHMA/Cir-054/2014

Dated: 13^th June, 2014

TO ALL MEMBERS OF THE ASSOCIATION

Sales Tax Refund Claims – Freezing of Bank Accounts by FBR

We have received complaints from several of our members that FBR freezes their Bank Accounts and also withdraw funds from their Bank Accounts against sales Tax refund claims found under objections/discrepancies e.g. although total amount of refund amount of a taxpayer outstanding  with FBR is Rs. 500,000/- but in case FBR finds objection/ discrepancy of an entry of Rs. 25,000/- and as per powers given, FBR freezes such Bank Account and withdraws Rs.25,000/- .

As we are scheduled to hold a meeting with the the Finance Minister and Chairman, FBR shortly all such members who have encountered freezing of their Bank Accounts as explained above are advised to inform the Association at the soonest to take up this crucial issue affecting our valued members among several other issues in the scheduled meeting.

Thanks & Best Regards,