Pakistan news

Government increase withholding taxes (WHT), income tex rate 0.4 for non-filer.

Recently on Wednesday, the Economic Coordination Committee (ECC) of the Cabinet endorsed the use of decreased wage impose rate of 0.4 percent for non-filers on non-money managing an account exchanges till March 31, 2017.

The current expense rate of 0.4 percent will now be relevant until March 31, 2017 rather than January 01, 2017.

Finance Minister Ishaq Dar was the person who led the ECC and proposed this application for augmentation in the era of pertinence of the current withholding charge rate of to the Federal Board of Revenue (FBR).

The withholding charge rate for non-filers of wage government forms on non-money keeping money exchanges above Rs 50,000 used to be 0.6% in the Finance Act 2015. The rate was then decreased to 0.3 percent after disturbance from the business group.

The ECC likewise affirmed the proposition of the Ministry of Petroleum and Natural Resources, to assign around 50 million standard cubic feet for each day (MMSCFD) gas from Habib Rahi Limestone (HRL) store to Thermal Power Station Guddu.

Facilitate 26 MMCFD gas from HRL store was assigned to M/s Engro Fertilizer Ltd’s old plant for continuation of the plant.

Futhermore, ECC likewise settled on the choice to permit fare of 225,000 Metric Ton (MT) of accessible sugar, and just those factories which have cleared their extraordinary duty will be permitted to make the fares. 1.23 million MT sugar is as yet going to be accessible for the nation

ECC likewise chose that satisfactory and fitting balanced governance ought to be kept by the Ministry of Commerce to keep up local value dependability in the market at the present level.



Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top