KARACHI: In the most recent development, the Federal Board of Revenue (FBR) has frozen the bank accounts of M/S Independent Media Corporation, the Jang Group.

The bank accounts were frozen after the media corporation failed to pay sales taxe to the FBR.

FBR had earlier served notice on M/S Independent Media Corporation, the Jang Group for recovery of government dues including default surcharge and penalty.

In a notice issued to the organisation, the FBR said that sales tax between the period of July 2004 June 2006 and May 2007 September 2007 were not paid by the organisation.

For the July 2004 June 2006 period, the organised was directed to pay Rs58,735,016 as default surcharge and Rs 193,594,513 as penalty.

For the May 2007 September 2007 period, Rs 53,014,683 was required to be paid as default surcharge and Rs 141,893,442 as penalty.

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