Islamabad: On the request of Pakistan Cotton Ginners Association, the Prime Minister Syed Yusuf Raza Gilani has directed Federal Board of Revenue (FBR) to exempt growers from levy of 3.5% withholding tax.
Withholding tax will now be deducted from Commission agents by the Ginners and deposited in the government treasury. This step will not only remove the malpractices of bogus certificates to avoid taxes. But will also broaden tax base as registration of commission agents will lead to efficient tax recovery.
For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326