ISLAMABAD: The government is willing to start negotiations with the traders to resolve the issues after imposition of 0.3 per cent withholding tax on banking transactions.
This was stated by Minister of State and Board of Investment (BoI) Chairman Dr Miftah Ismail, while talking to a private news channel. He said that there is no withholding tax on transition of Rs50,000 per day and the initiative of withholding tax has been taken against the non-filers of tax returns. He said the government is not collecting withholding tax (WHT) from filers of tax returns.
Dr Miftah said tax is must to run the state and increase in sale taxes will have negative impacts on poor class of society. He said the government is trying to increase net of direct tax in the country.
The state minister said that a fair and transparent system of tax should be introduced in the country and no scandal of corruption has surfaced against PML-N. He said “we should not confuse the issue of WHT and the country cannot move forward if the traders do not pay only 0.3 percent WHT.”
