The Central Board of Revenue (CBR) has clarified that the International Monetary Fund (IMF) has not asked CBR to waiver off withholding tax on cash withdrawal from the banks. CBR spokesman Habib Fakhruddin on Monday clarified that the IMF has not asked the CBR to withdraw the levy on cash withdrawal from the banks.
The CBR has already opened a separate head of account for this levy entitled "cash withdrawal u/s 231-A". The tax collection data is flowing in the head of account regularly.
However, the spokesman said, the accurate linkages between the stakeholders have not been established, as yet; therefore, the information has not been released to the media. Once the flow of information is streamlined between the stakeholders, (expected in the next month), the exact figures would be released to the Press accordingly, Habib Fakhruddin added.
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