Govt refuses to take back With Holding Tax94 views
ISLAMABAD: A senior official of Federal Board of Revenue has stated that government cannot revert its decision of imposing with holding tax.
Rana Afzaal of FBR has told that government has no intention of taking back this decision and negotiations with traders in this regard is underway.
The official also said thousands of traders don’t pay a single penny in tax and this tax is basically to bring the non filers into the tax net.
Initially it was imposed with .6% ratio on each banking transaction of Rs. 50,000 or more but then after consideration and negotiations with trader bodies it has been reduced to 0.3%.
Trader Bodies have serious reservations on this newly imposed tax.