Withholding tax

Rauf Ibrahim, Chairman of the Wholesale Grocers Association, announces the strike will continue until August 2

FBR proposes new rules to increase revenue collection, promote documentation

Foresees significant growth in mobile data consumption in next 5 years

Stocks plunge 2,053 points after PM’s announcement

Rs300b to be collected through petroleum levy

Participants briefed on KP Sales Tax on Services Withholding Regulations 2020

Defers approval of Karachi package again and request for import of more wheat

Also proposes to limit expense allowances for industrialists

Directs field formations to ascertain causes behind poor WHT receipts

Say if 2.5% WHT imposed, they will wind up their businesses

Investors await clarity on revised rates of land to be announced by FBR

Its share in total income tax also shrinks due to court decision, legislative changes

Official deducted Rs294m on the orders of the FBR without informing the excise dept

Scheme, if cleared by parliament, will whiten an estimated Rs7 trillion of black money

FBR wants to collect an additional Rs3b through this proposal

FBR delays communication to bank headquarters about taxpayers

Rs11.8t passed through SBP Clearing House in July-December compared to Rs13.5t in January-June 2015

The last date for filing tax returns by traders under the Income Tax Act 2016 has also been specified as February 29

Nawaz says government has successfully addressed issue of withholding tax with mutual agreement of traders

Withholding tax rate was reduced and the deadline for the measure coming into effect extended

Says information will be submitted after figures are finalised

The government has conceded that the tax levy, implemented through the budget, will now be cut down to 0.2 per cent

All Pakistan Anjuman-i-Tajran and Anjuman-i-Tajran delegations meet Shahbaz

Leaders say govt must abolish withholding tax

The strike was also observed in Mastung, Khuzdar, Kalat, Nukundi, Duki, Dalbandine, Chaman, Sibi etc

APAT president says traders will not be intimidated

The WHT rate also doubles to 0.6 per cent for traders who have yet to file income tax returns

Shutterdown strikes observed throughout Sindh

Demonstrators warn of strikes in both districts if levy not abolished.

From September 4, traders will halt transactions with commercial banks

Government is working to develop an integrated database that will help in identifying all potential taxpayers

The businessmen vehemently opposed the imposition of a withholding tax, saying they will not accept an unjust levy

Party’s K-P GS says govt should retract levy immediately.

The shutter-down strike was called off by 2pm

Offers amnesty scheme to traders; will not audit their income tax returns for 3 years.

Call upon govt to immediately withdraw WHT on banking transactions.

Govt’s meeting with traders ends in deadlock, main representatives not present

FBR has been reported to the Board that some of the banks were still deducting tax on bank instrument of non-filers