The Federal Board of Revenue (FBR) has agreed to a budget proposal of field formations to enhance rates of withholding tax on non-filers in the coming budget (2017-18). Sources said that the second day of the Tax Policy Conference at the Federal Board of Revenue (FBR) discussed the tax proposals of the field formations including Regional Tax Offices (RTOs). One of the proposals discussed during the conference was to further enhance withholding tax rates on non-filers. The non-filers are subjected to higher rates of withholding tax on different kind of transactions. It has been proposed that the difference of withholding tax rates between the filers and non-filers would be further increased in coming budget.
The FBR will also explore possibility to expanding the scope of higher rate of withholding tax for non-filers on other sectors. The budget proposal was discussed during the Tax Policy Conference held at the FBR House. The conference was chaired by Haroon Akhtar Khan Special Assistant to the Prime Minister on Revenue. Presentations were made by Chief Commissioner Regional Tax Office (RTO) Peshawar and senior officials of Large Taxpayer Units (LTUs) of Karachi, Lahore and Islamabad on first day of conference. The remaining RTOs made their presentations on the second day of conference.
Comments
Comments are closed for this article.