The Central Intelligence Cell (CIC) of the National Board of Revenue (NBR) has directed all banks and non-bank financial institutions to freeze the accounts of Asiatic Marketing Communications Limited, a leading advertising agency in the country.
The CIC has issued formal letters to senior executives of financial institutions across the sector.
“We’ve instructed banks and financial institutions to freeze all accounts of Asiatic Marketing Communications Limited,” a senior CIC official said, adding, “The company is under investigation for suspected tax evasion.”
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He said the probe will also examine whether Asiatic possesses undisclosed income or assets beyond those reported in its tax filings.
Asiatic Marketing Communications Limited is the country’s oldest and largest communication agency.