ISLAMABAD (APP) – Federal Minister for Finance, Senator Ishaq Dar on Wednesday had a meeting with representatives of traders and business community, chambers of commerce and industries from all over the country on FBR related issues including the imposition of 0.6% withholding tax on banking transactions.
The Minister at the outset clarified that 0.6% withholding tax as announced in the budget 2015-16 on banking transactions was applicable only to non-filers.
It was in a way meant to persuade non-filers to enter the tax net and contribute to the national exchequer.
The Minister gave a patient hearing to all the representatives and had open discussion with them on resolving their FBR related issues.
With consensus of the participants, the Minister announced formation of a 19-member committee to resolve the FBR related issues including the matter regarding withholding tax on banking transactions.
The committee includes seven members each from traders and various chambers of commerce and industries.
The committee also includes SAPM on revenue, Haroon Akhtar, Chairman FBR, Tariq Bajwa, President FPCCI, Mian Idrees, MNAs, Pervez Malik and Mian Abdul Manan.
The minister, while assuring representatives of business community of all possible consideration of their requests, directed the committee to meet at the FBR on Thursday.
The meeting among others was also attended by Special Assistant to Prime Minister, Haroon Akhtar, MNAs, Mian Abdul Mannan and Pervez Malik, Additional Secretary to Finance Minister, Tariq Mahmood Pasha, Chairman FBR, Tariq Bajwa, Chairman FPCCI Mian Mohammad Idrees, MNAs Pervez Malik and Mian Abdul Manan, representatives of traders associations and chambers of commerce and industries from all over Pakistan.
