ISLAMABAD - Federal Minister for Finance and Economic Affairs Senator Ishaq Dar as the Economic Coordination Committee (ECC) chairman on Saturday accorded anticipatory approval to amend 0.6 per cent Withholding Tax (WHT) rate on banking transactions to 0.3 per cent in respect of non-filers till February 29, 2016.
The Income Tax Amendment Act 2016 empowers the federal government to amend the rate of 0.6 per cent on the recommendation of the ECC. Dar also gave approval for extending the date for filing of tax returns by Individuals and Associations of Persons till 29th February.
In addition the last date for filing of tax returns by traders under the Income Tax (second amendment)/Act, 2016, the last date has also been specified as 29th February 2016.
DAILY TIMES
YEMI
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