Pakistan Telecommunication Authority PTA has become taxable, as per Finance Act, 1997, and is bound to pay taxes to FBR every year, revealed us sources close to authority. Earlier, PTA had been arguing that authority is a Government body and all revenues go directly into Government’s account; hence, it should not be taxed. In a result PTA didn’t pay taxes for over or around ten years. On other hands, large Tax Payer Unit (LTU) of FBR was consistently pushing PTA to pay taxes. In response FBR’s tax collection call; PTA took the matter in both High Court and Appellate Tribunals, and believed that PTA is not liable to pay any tax as it is authority itself. Court had issued the stay order for PTA’s payable tax of Rs. 9 billion; but PTA’s current … Read entire article »