Govt decides to impose 0.6% withholding tax on non-filers from October 1
The tax has been reduced to 0.3% till September 30 after the protest of traders.
ISLAMABAD (Dunya News) – The government on Monday decided to impose 0.6% withholding tax on those who do not file tax returns, Dunya News reported.
The government imposed the tax on bank transactions to bring the non-tax payers and non-filers into the net. The tax has been reduced to 0.3% till September 30 after the protest of traders.
According to sources, the government has once again ascertained that the withholding tax will be fixed to 0.6% from October 1.
On the other hand, Federal Board of Revenue (FBR) has summoned record of transactions more than Rs50,000 made in the past two months.
The FBR will list the tax filers and non-filers from the record and will find that whether the money is being used in money laundering or any other illegal activity.
