Jan 31 , 2016

News

Dar approves amendment to WHT rate
APP

ISLAMABAD: Finance Minister Ishaq Dar, who is also chairman of the Economic Coordination Committee (ECC), on Saturday accorded anticipatory approval to amend the 0.6 percent withholding tax (WHT) rate on bank transactions to 0.3 percent in respect of non-filers till February 29. It may be mentioned here that the Income Tax Amendment Act 2016 empowers the federal government to amend the rate of 0.6 percent on the recommendation of the ECC, says a statement issued here. The finance minister also gave approval for extending the date for filing tax returns by individuals and associations of persons till February 29. In addition, the last date for filing tax returns by traders under the Income Tax (Second Amendment) Act 2016 has been specified as February 29. The decisions have been taken to facilitate taxpayers.

Courtesy www.dailytimes.com.pk

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