Withholding Agents: K-P amends sales tax regulations
'The authority would be able to ensure 100% compliance with the tax regulations'
PHOTO: FILE
PESHAWAR:
The Khyber-Pakhtunkhwa Revenue Authority (KPRA) made certain amendments to the sales tax special procedure (withholding agent’s regulations 2015) in its 28th meeting. The meeting was chaired by KPRA Director General Muhammad Nasir Khan. The amendments were unanimously passed by the authority members. The director general told media that there was a loophole in the previous Act due to which the withholding agents were not willing to collect taxes from individuals or were not depositing the collected taxes with the government. He stated that after the amendments, the authority would be able to ensure 100% compliance with the tax regulations, which would ultimately contribute to increasing the provincial revenues.
Published in The Express Tribune, March 14th, 2018.
The Khyber-Pakhtunkhwa Revenue Authority (KPRA) made certain amendments to the sales tax special procedure (withholding agent’s regulations 2015) in its 28th meeting. The meeting was chaired by KPRA Director General Muhammad Nasir Khan. The amendments were unanimously passed by the authority members. The director general told media that there was a loophole in the previous Act due to which the withholding agents were not willing to collect taxes from individuals or were not depositing the collected taxes with the government. He stated that after the amendments, the authority would be able to ensure 100% compliance with the tax regulations, which would ultimately contribute to increasing the provincial revenues.
Published in The Express Tribune, March 14th, 2018.