ISLAMABAD: Prime Minister (PM) Syed Yusuf Raza Gilani has directed Federal Board of Revenue (FBR) to exempt growers from levy of 3.5% with holding tax.
PM has issued these directives on the request of Pakistan Cotton Ginners Association (PCGA).
Withholding tax will now be deducted from Commission agents by the Ginners and deposited in the government treasury. This step will not only remove the malpractices of bogus certificates to avoid taxes. But will also broaden tax base as registration of commission agents will lead to efficient tax recovery. Online
