Karachi, August 27, 2019: Muhammad Saqib
He said that during different meetings with FBR, imposition of 1 percent withholding Tax was agreed over Textile Value Chain (Doubling, Twisting, Knitting, and Weaving) but clarification from FBR says imposition of 4 percent withholding Tax instead of 1 percent
On purchase of cotton from Ginners,
He further said that local
FBR while Examining Audited Balance sheets of public listed companies & other companies that withholding Tax received over lesser Margin is how much excessive. Therefore, for the survival of whole Textile Value Chain 1 percent W/H Tax MUST be implemented.