FBR to Auction Off Karachi’s Bahria Icon Tower for Defaulting on Rs. 26 Billion Tax

The Federal Board of Revenue (FBR) has issued a public proclamation announcing the auction of the high-profile Bahria Icon Tower of Bahria Town, Karachi, due to a massive tax default of Rs. 26.46 billion. The auction will be conducted after the presentation of the federal budget 2025-26. Bahria Icon Tower, located in Clifton, Karachi, and the Mall of Islamabad are among the properties that will be sold through public auction under Section 138(2)(a) of the Income Tax Ordinance, 2001, and Rule 162 of the Income Tax Rules, 2002. The auction is scheduled for June 19, 2025, at 11:00 am and will take place at the FBR’s Large Taxpayers’ Office in Islamabad, situated at Plot No. 20, Mauve Area, G-9/1. Both the Bahria Town building and Mall of Islamabad are being auctioned to recover outstanding tax dues and to enforce tax laws.