LAHORE: The Withholding Tax (WHT) zone of Regional Tax Office-II (RTO) has started preparing withholding tax performance report according to revised format to evaluate the performance of heads of each unit, after the instructions from Federal Board of Revenue.
Sources said that RTO-II Lahore has almost achieved its set target of Rs 35499 million up to January 2015. Performance of WHT zone was also satisfactory on basis of meeting the target. Sources for WHT in Income Tax and Sales Tax were being explored to increase the revenue collection as there was immense potential in this category, they added. They said that WHT zone would take action against the non-filers after completing the scrutiny process.
As per details, Director General WHT Shaukat Mahmood has written a letter to all chief commissioners of Large Taxpayer Units and RTOs regarding the WHT performance report of income tax and sales tax separately by each unit incharge of WHT zone here on January 10.
As per letter, DG instructed, “The growing importance of withholding tax and its contribution in total revenue is increasing with the passage of time. In an un-documented economy like Pakistan, imposition and effective monitoring of withholding tax is necessary not only to generate sizeable revenue but also to document withholding transactions. Keeping in view the enormous potential of withholding tax regime, a more focused monitoring of Income Tax and Sales Tax withholding tax provisions and performance based reporting from the field formations is the need of the hour”.
“Now the performance evaluation of the officers posted in withholding zones shall be done on the basis of the enclosed Performa of “Withholding Tax Performance Report” of Income Tax and Sales Tax separately. The Chief Commissioners are also requested to evaluate the performance of “Unit Incharges” working in WHT zones on this proforma”, DG instructed.
DG said that WHT performance report has been revised making it more specific and to ensure category -wise reporting of collection by the field formations.
DG also directed that WHT performance report of Income Tax and Sales Tax on the revised format for the month of January, 2015 in respect of each Unit Incharge of WHT Units of each LTUs and RTOs may kindly be sent by February 20. Subsequently, monthly report should be sent to the Board by 10th of each month in respect of each Unit Incharge of WHT Units of each LTUs and RTOs.
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