FBR issues SRO for reduced WHT rate on non-filers

ISLAMABAD: Federal Board of Revenue (FBR) has issued a notification to extend the levy of reduced withholding tax on non-filers at 0.4 percent up to June 30, 2017.

The FBR issued SRO 289 (I)/2017 after a month of decision taken by the Economic Coordination Committee to reduce the rate.

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The ECC in its meeting on March 28, 2017 approved the extension the levy of reduced rate of withholding tax of 0.4 percent on non-cash banking transactions made by non-filers of income tax returns. The application of reduced rate had been extended from March 31 to June 30, 2017.