ISLAMABAD: The Federal Board of Revenue (FBR) has clarified that withholding tax on sale of goods as well as minimum tax on turnover in the case of dealers and sub-dealers of sugar have been fixed at the rate of 0.25pc in the Finance Act, 2019 with the agreement of All Pakistan Sugar Dealers/Wholesalers Association.
Earlier in an appeal publicized in the print media by All Pakistan Sugar Dealers / Wholesalers Association, it has been agitated that contrary to what was agreed by the Association with the Chairman FBR, withholding tax at the rate of 2.5pc and minimum tax at the rate of 0.3% has been imposed upon the sugar dealers and wholesalers through the Finance Act, 2019.
The contents of the said appeal are not correct and are strongly denied. Rates have been fixed at 0.25pc as demanded by the All Pakistan Sugar Dealers/Wholesalers Association, a statement of FBR said on Monday.
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