ایف بی آر کی پریس ریلیز

FBR clarifies news reports about WHT on bank transactions

Federal Board of Revenue (FBR) clarifies certain reports published in a section of the press based on incorrect facts and presumptions regarding the ongoing interaction between trader community and federal government.
To remove any ambiguity, it is clarified that:-
•    0.3% tax on bank transactions is only an advance tax on non-filers of Income Tax Returns.
•    Non-filers can become “filer” at any time by submitting his Income Tax Return.
•   Regarding difficulties that some businessmen may have in becoming filers due to their being out of the tax net, the Government has set up 3 committees for making entry into the tax net easy.
The Government is committed to expanding the tax net to those who are presently non-filers.
The Government is also committed to improving ease of doing business and facilitation of existing taxpayers.
Public may contact FBR’s FATE Wing or their committee members with any suggestions. List of committee members are on FBR website under the page titled “press release”.