KARACHI: The Sindh High Court (SHC) has put off the hearing of a petition, challenging the imposition of 0.3 percent withholding tax on bank transactions.
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The matter was listed for hearing on Wednesday but it could not be taken up for want of time. The next date of the hearing would be fixed later on by the court office.
Petitioner Moulvi Iqbal Haider had approached the high court requesting to strike down the decision regarding imposition of withholding tax as it was in violation of the certain provisions of the Constitution.
Citing secretary law, secretary finance, chairman federal board of revenue and others as respondents, the petitioner submitted that the citizens were being made to pay 0.3 percent withholding tax for stashing away their money in banks accounts but the government was not reducing its lavish expenses.
Terming the decision an unjustified move, he said, the business community had decided to withdraw its savings from the banks. Besides, he argued, imposition of withholding tax on banking transaction is in violation of Article 77 of the constitution.
The petitioner pleaded with the court to declare withholding tax as null and void.
