The Federal Board of Revenue (FBR) has issued a notice to auction Bahria Icon Tower Karachi and Mall of Islamabad after the budget, media reported on Monday.
According to the FBR’s notice, Bahria Town properties have arrears of more than Rs26 billion in taxes. The auction of both properties will be held at the Large Taxpayer Office of the FBR, Islamabad on June 19. The auction will be held under the Income Tax Ordinance 2001 and the 2002 Tax Default Act.
Earlier, on April 15, the National Accountability Bureau (NAB) took strict action against Bahria Town Karachi on corruption charges and froze 16 bank accounts.
The NAB has filed an application in the accountability court, in which it was stated that the accused earned billions of rupees by illegally occupying more than 16,000 acres of government land. According to NAB, orders have been issued to freeze Rs25 billion, while the commercial activities of Bahria Town Karachi have also been stopped.
