The government has decided to continue the imposition of reduced rate of withholding tax on non-cash banking transactions made by non-filers till December 31, 2017.
The decision has been taken at a meeting chaired by Finance Minister Senator Mohammad Ishaq Dar with officials of Federal Board of Revenue held on Thursday.
The meeting decided that the period of applicability of reduced rate of 0.4 percent withholding tax on banking transactions for non-filers shall be extended from September 30, 2017 to December 31, 2017.
The Finance Minister directed FBR to complete the due process in this regard.
(Extract from The News September 29, 2017)
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