LAHORE: The Federal Board of Revenue (FBR) has recovered Rs 1.4 billion withholding tax (WHT) from a Chinese company, CR-Norinco, working on Orange Line Metro Train Project in Lahore.
The FBR and the company were negotiating about the imposed tax for two months. The board had demanded six percent WHT tax on the machinery worth Rs 18.4 billion, imported by the said company for the project. The company was not depositing the tax for a year.
Sources said that CR-Norinco will import the machinery worth Rs 90 billion for the train project. The company is providing technical and electrical services forth the project.
