ISLAMABAD: The issue of withholding tax between government and traders will soon be resolved, it is learnt here.
According to sources, the FBR has made it clear to the non-filer traders that withholding tax will not be withdrawn as parliament has also approved it. While the last option for the exemption to withholding tax is to submit yearly income tax returns.
On the other hand, trader’s sources said that they are hopeful that the FBR will accept their suggestions in this regard. Trader’s sources added that the government will asked not to collect 30 percent income tax under the income tax ordinance 2001 on the working capital showed in the first tax returns by the non-filers. While concession rate will be acceptable to the non-filers traders.
