Summary The tax ratio for defaulters applicable during bank withdrawals has also been increased
ISLAMABAD (Dunya News) – The deadline to file tax returns has been extended until March 25 while the tax ratio for defaulters applicable during bank withdrawals has also been increased, Dunya News reported.
According to details, it was told during a session headed by the Federal Finance Minister that over 2500 tax returns have been filed so far as per the scheme which resulted in raising of Rs 25 crore in taxes.
It was decided in the meeting that those who didn’t submit tax returns will have to pay 0.4% withholding tax instead of previously imposed 0.3% while this ratio will further increase to 0.6% from March 16.
