Attock Refinery Ltd says the recovery of Rs. 1 billion by FBR was illegal. The company said that it had not evaded its tax liability. It contributes significantly to the government treasury through direct and indirect taxes, it added. Attock refinery is one of the largest taxpayers in Pakistan.
No recovery notice was ever issued to the Company requiring it to make any payment. Instead, the bank accounts were attached based on an order passed by the Commissioner Inland Revenue (Appeals — I) on May 31, 2022, and served on the Company after the bank accounts had been attached.
It added that the demand on bases was unlawful and contrary to the factual and legal position.
Taxpayers should not be recovered through coercive measures before an independent forum has confirmed the related demand, the Indian Oil Company (IOC) has said. IOC: Recovery of tax money even before service of related appellate order is tantamount to the denial of the right of appeal.
The company has said that the recovery proceedings initiated by the Large Taxpayers’ Office (LTO) Islamabad and recovery of funds are entirely illegal. Such illegal attachment of bank accounts. Create a severe hindrance against the government’s stated policy. To promote ease of doing business, it said.
The company said it would take appropriate legal action to protect its rights.