Tax reform – Proposal for finance bill 2019.
WHT u/s 153 in the hand of customer to be abolished by shifting the obligation on banks only where cheques for gross value of sales proceeds to be deposited.
It will facilitate following;
1- Better coverage of WHT on full value of sales proceeds deposited in banks.
2- Lower scope of WHT monitoring by FBR.
3- Few WHT agents.
4- Ease of doing business without WHT issues.
5- lesser complaints / allegation of corruption on FBR
6- Elimination of WHT Audit & assessee in default related issues
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