ISLAMABAD: Federal Board of Revenue (FBR) and cellular companies are developing a mechanism to ensure accuracy in the tally of taxes collected from phone subscribers as the former has decided to collect withholding tax from the mobile phone operators on real-time basis.
The revenue authority collected Rs47.65 billion as withholding income taxes during the fiscal year of 2015-16 as compared with Rs44.67 billion in the last fiscal year, showing a 6.7 percent growth.
Sources said that the mobile phone companies will likely to launch a system for the online tax collection by the mid of September. The companies have agreed to provide details of the tax deduction against each number. However, these companies are reluctant to give detail of all the numbers due to security reasons.
