For final withholding taxes
, the BIR Form 2306 should be given to the payee on or before Jan.
According to the FBR letter, withholding tax
imposed on category 'A' licences has been increased from Rs10,000 per annum to Rs100,000).
Likewise, the regulation lowered the 20 percent withholding tax
on the interest income on the refund paid to non-residential Meralco customers to 15 percent.
'The rate of withholding tax
for non-tax filers on registration cars has increased in order to bring them into tax net,' said an official of the Federal Board of Revenue (FBR).
of interest is a tax that is recognized by the personal income tax act as amended in 2011.
At present and out of 10 GLT units in KP, two are out of order and remaining eight are in the working condition but the federal government has not taking withholding tax
from these units.
Now, this situation could arise: What if the amount of the net estate tax due, after deductions, was zero or less than the amount subjected to final withholding tax
? Such a situation would be possible and there may not be a tax liability in the first place if the gross estate and deductions are considered.
Additionally, withholding tax
on banking transactions is creating problems for the low income groups such as pensioners, retirees, farmers, students, etc, who fall below the taxable threshold limit yet they are charged the higher non-filer rate.
The Bureau of Internal Revenue issued two rulings a few days prior to the bonds' maturity in 2011, asserting that the discount was subject to withholding tax
. This was a surprise reversal of its original position when it enticed investors in 2001 by promising tax-free returns.
The three stakeholders met on Feb 16 and recommended the ECC might allow exemption from withholding tax
on dividends to transmission line projects under Transmission Policy 2015.
and information reporting rules relating to outbound payments.
ISLAMABAD, June 27 -- Through an amendment in the 2010-11 budget, the federal government has imposed a 10 percent withholding tax
on monthly electricity bills of commercial consumers from July 1, while the tax rate for industrial consumers will be 5 percent.