LAHORE: The Federal Board of Revenue (FBR) Regional Tax Office-I (RTO-I) Lahore is going to issue 135 show cause notices to different companies for not filing the withholding tax statement.
As per details, it is a must for all companies to submit their withholding tax statement to the FBR on monthly basis to help the board calculate their taxes. These statements show the value of materials that companies would have until the mid of every month.
Sources said that the FBR had decided to take action against companies that did not submit their statements during the second quarter of the current fiscal year. They added that heavy penalties would be imposed on non-filers according to the rules of department. Sources also said that notices would be issued to various sectors such as textile, oil, steel and construction in this regard. They said that authorities have directed the withholding staff to serve notices immediately. The staff has been instructed by high-ups not to show any kind of leniency towards non-compilers.
