ONLY 23 LIMITED (PUBLIC/PRIVATE) COMPANIES DE-REGISTERED: FBR CONTRADICTS PRESS REPORT
Federal Board of Revenue strongly contradicted a news item, appearing in a section of the Press under caption “More than 9,000 business companies out of tax net.” An erroneous impression was given in the news item that more than 9,000 big, medium and small companies went off the Sales Tax Registeration in 2007 out of which over 1000 were big corporate firms.
Federal Board of Revenue has thoroughly examined the matter and it was found that the said news report was misleading and incorrect. The official record shows that only 329 registered persons have been de-registered between 01-01-2007 to 19-12-2007 after due verification/audit, which includes only 23 Limited (Public/Private) Companies. This clarification is being issued for information of the general public to put the record straight.
Muhammad Hafeez Mughal
Dec 31, 2007