ANL 34.10 Decreased By ▼ -0.15 (-0.44%)
ASC 13.65 Increased By ▲ 0.30 (2.25%)
ASL 23.40 Increased By ▲ 0.80 (3.54%)
AVN 85.60 Increased By ▲ 1.90 (2.27%)
BOP 7.70 No Change ▼ 0.00 (0%)
BYCO 9.44 Increased By ▲ 0.07 (0.75%)
DGKC 111.51 Increased By ▲ 1.31 (1.19%)
EPCL 48.99 Decreased By ▼ -1.90 (-3.73%)
FCCL 22.85 Increased By ▲ 0.09 (0.4%)
FFBL 25.47 Decreased By ▼ -0.23 (-0.89%)
FFL 15.33 Increased By ▲ 0.03 (0.2%)
HASCOL 8.94 Decreased By ▼ -0.06 (-0.67%)
HUBC 78.43 Decreased By ▼ -0.57 (-0.72%)
HUMNL 6.13 Increased By ▲ 0.29 (4.97%)
JSCL 19.14 Increased By ▲ 0.44 (2.35%)
KAPCO 40.50 Increased By ▲ 1.11 (2.82%)
KEL 3.72 Increased By ▲ 0.04 (1.09%)
LOTCHEM 14.20 Decreased By ▼ -0.15 (-1.05%)
MLCF 42.75 Increased By ▲ 0.45 (1.06%)
PAEL 30.90 Decreased By ▼ -0.17 (-0.55%)
PIBTL 9.52 Increased By ▲ 0.07 (0.74%)
POWER 8.61 Increased By ▲ 0.17 (2.01%)
PPL 82.50 Decreased By ▼ -0.80 (-0.96%)
PRL 23.09 Increased By ▲ 0.32 (1.41%)
PTC 9.00 Decreased By ▼ -0.20 (-2.17%)
SILK 1.38 Decreased By ▼ -0.02 (-1.43%)
SNGP 38.90 Increased By ▲ 0.31 (0.8%)
TRG 165.00 Increased By ▲ 1.78 (1.09%)
UNITY 35.80 Increased By ▲ 0.87 (2.49%)
WTL 1.53 Increased By ▲ 0.08 (5.52%)
BR100 4,846 Increased By ▲ 46.43 (0.97%)
BR30 24,817 Increased By ▲ 123.55 (0.5%)
KSE100 45,175 Increased By ▲ 231.06 (0.51%)
KSE30 18,470 Increased By ▲ 86.89 (0.47%)

Coronavirus
VERY HIGH
Pakistan Deaths
18,797
12024hr
Pakistan Cases
854,240
410924hr
Sindh
290,756
Punjab
316,334
Balochistan
23,186
Islamabad
77,684
KPK
123,150

ISLAMABAD: Federal Tax Ombudsman (FTO) Mushtaq Ahmad Sukhera has directed the Federal Board of Revenue (FBR) to initiate proceedings against non-compliant withholding agents engaged in collection/deduction of advance tax at the time of sale, purchase or transfer/registration of immovable properties.

According to the directive of the FTO office to the FBR, Federal Tax Ombudsman has further directed FBR to initiate and finalise proceedings against non-compliant withholding agents under Section 161 read with Section 205, where default is established in terms of Section 165 of the Income Tax Ordinance.

He has further directed FBR to register all the non-compliant withholding agents on the tax roll and to ensure submission of withholding statements in terms of section 165

of the Income Tax Ordinance.

An own motion investigation was initiated to investigate the failure of FBR to monitor the advance tax to be collected at the time of sale, purchase or transfer/registration of immovable properties in terms of section 236C and 236K of the Income Tax Ordinance , 2001. The total number of withholding agents is 11,723 whereby shockingly 6,406 withholding agents are not on Tax roll as reflected by the data provided by the FBR.

It was further found during the investigation that most of the withholding agents, who are on NTN, were non-filers of withholding tax statements that they are required to submit under section 165 of the Ordinance.

The public exchequer has/had thus been losing huge legitimate tax, which the FBR ought to have collected, wherever applicable.

Federal Tax Ombudsman Own Motion decision states this to be sheer ineptness and inefficiency on the part of FBR along with its field formations that ended into failure in developing a timely, proper and robust mechanism to monitor Advance Tax collections under Section 236C and 236K of the Ordinance which tantamount to maladministration. Therefore, FBR has been directed to do the needful and report compliance within 60 days, FTO added.

Copyright Business Recorder, 2021