ISLAMABAD: The Economic Coordination Committee (ECC) meeting, held under the chairmanship of Federal Finance Minister Ishaq Dar at the FBR’s headquarters, has extended the deadline for filing income tax returns from November 30 to December 31, 2015.
The ECC meeting also extended the reduced withholding tax on banking transactions at the rate of 0.3 percent for one month till December 31. The ECC approved the extension in time period for 0.3 percent reduced rate of advance income tax (WHT) on non-filers on the proposal of Federal Board of Revenge.
The Economic Coordination Committee also okayed the proposal of FBR for grant of exemption in duties and taxes for the equipment to be installed at IC3 facility at Port Qasim. The exemption was granted in pursuance of a bilateral agreement. The installation of the equipment will benefit Pakistani exports as it provided a single step clearance for all US bound export cargo using scanners with sophisticated technology.
