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ISLAMABAD: The Federal Board of Revenue (FBR) has exempted withholding tax on the import of 300,000 Metric Tons of wheat.

According to a notification issued by the FBR here on Tuesday, the provision of the section 148 of the Income Tax Ordinance 2001, in pursuance of Cabinet decision, would not apply on the import of 300,000 Metric Tons of wheat through tendering process by the Trading Corporation of Pakistan (TCP).

Through another notification, the FBR has exempted the import of cryogenic tanks (for oxygen gas) (PCT heading 7311.0030), for medical purposes, from whole of the sales tax for a period of three months starting from December 29, 2020.

Copyright Business Recorder, 2021