Some of the new areas on which withholding tax
has been imposed do not even fall among the top 20 contributors.
The author is of the opinion that, instead of a final withholding tax
, it serves the purpose of the TRAIN law better if it is a creditable withholding tax
Talking to a delegation of All Pakistan Anjuman-e-Tajran (APAT), led by Khalid Pervez, here at the LCCI, they said that withholding tax
was a major among other issues, like complex taxation system, dual taxation, high input cost and delay in refunds, that must be resolved.
Issue of withholding tax
is top of the list in the other miseries like disparity in taxation system, dual taxation, high input cost and delay in refunds that must be resolved according to the demand of the business community, the LCCI office-bearers said while talking to a delegation of All Pakistan anjuman-e-Tajran, led by Khalid Pervez.
The LCCI office-bearers hoped that withholding tax
on banking transactions will be withdrawn immediately in the larger interest of the industry, trade and economy.
In general, every employer is required to deduct and withhold from compensation a tax determined in accordance with the prescribed Revised Withholding Tax
Table (Version 2).
The Committee was informed that withholding tax
is being collected from the consumers but it was not being deposited with the FBR.
The State Bank's proposal on withholding tax
on banking transactions seems to be legitimate and needs to be considered vigorously by the government.
What the ruling definitively establishes is that the PEACe bonds are not subject to the withholding tax
The three stakeholders met on Feb 16 and recommended the ECC might allow exemption from withholding tax
on dividends to transmission line projects under Transmission Policy 2015.
It said withholding tax
on various payments made by the taxpayers is not being calculated on IRIS withholding portal owing to the exemption certificate granted by the commissioner subsequent to the date the taxes were deducted.
The gross basis withholding tax
and net tax on business income: While it taxes citizens and residents on worldwide income, the United States asserts a more limited tax jurisdiction over nonresident alien individuals and foreign corporations (collectively referred to as "foreign persons").
ISLAMABAD, June 27 -- Through an amendment in the 2010-11 budget, the federal government has imposed a 10 percent withholding tax
on monthly electricity bills of commercial consumers from July 1, while the tax rate for industrial consumers will be 5 percent.
The tax-cut program targets the withholding tax
on the incomes of those foreigners, who do not have to file tax returns.
The efforts of NACM to repeal a 3% withholding tax
on the value of most government contracts were recognized recently by Rep.