The Federal Board of Revenue will now give people and companies a 24-hour notice before freezing their bank accounts for tax collection.
The decision has been made by its new chairperson Shabbar Zaidi. The directions have given to all chief commissioners, large taxpayers unit, corporate regional tax offices, and regional tax offices.
The Income Tax Ordinance gives the revenue board the power to recover taxes from the people the way it wants. It has been freezing accounts of people and companies and unfreezing them after deduction of tax.
Many investors raised their reservations over this. They asked to be informed before their bank accounts are frozen.
Now, the people will be told one in advance about tax collection and if they fail to pay the tax amount then their accounts will be frozen after the approval of FBR chairperson.