LAHORE: Federal Finance Minister Ishaq Dar, during a meeting with the delegation of United Business Group and Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has agreed to keep 0.3 per cent withholding tax rate on all banking transaction in December.
The Federal Minister also agreed that 0.3 percent rate of withholding tax will continue till December 31 so that all matters are resolved in this regard.
He said that Federal Board of Revenue (FBR) will prepare a summery and send it to the Economic Coordination Committee (ECC) in this regard. Finance Minister added that after the approval from the ECC, the 0.3 percent withholding tax rate will be imposed on any banking transaction during December this year. He added that Rs 6.7 trillion targets are set for the second quarter of the current year for FBR.
Dar also emphasised the active role of traders and business community for economic progress in the country. He also stressed the role of chambers of commerce and industry to act as a bridge between the government and the traders for active coordination aimed at augmenting economic development.
The United Business Group delegation led by its chairman Iftikhar Malik had urged the Federal Minister to extend the last date till Dec 31 for filing income tax returns. The delegation comprised of TDAP chief executive SM Muneer and FPCCI President Mian Adrees.
