FBR seeks withholding tax detail of every account holder
Last updated on: 01 June,2019 04:58 pm
All banks have been instructed to submit information regarding withholding tax by June 30, 2019.
LAHORE (Dunya News) – The Federal Board of Revenue (FBR) has sought details from the banks on withholding tax of all the account holders on Saturday.
FBR said that all the details should be provided according to identification card number. All banks have been instructed to submit information regarding withholding tax by June 30, 2019.
According to Dunya News, FBR informed that the information received through the ID card will expand the tax net of the nation. Prime Minister Imran Khan and FBR chairman Shabbar Zaidi met on March 20 to talk on the purpose. Both met to discuss the measures need to be taken to expand the tax net.
On May 28, Shabbar Zaidi said that collection of taxes in Pakistan is way too low for which they are trying to improve the system by achieving a tax target which will stabilize the economic situation.