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The Federal Board of Revenue (FBR) has extended date for payment of reduced rate of withholding tax (0.4 percent) for non-filers up to June 30, 2018 under section 236P of the Income Tax Ordinance 2001. The Economic Coordination Committee (ECC) of the Cabinet has approved a proposal for extension in the date for applicability of reduced withholding tax rate @ 0.4% for non-filers till 30th June 2018 under section 236P of the Income Tax Ordinance, 2001.
According to an SRO 1330(I)/2017 issued by the FBR here on Monday, in exercise of the powers conferred by proviso under Division XXI of Part IV of the First Schedule to the Income Tax Ordinance, 2001, the Board with the approval of federal minister-in-charge has directed that in its notification No SRO 983(1)/2017 dated 29th September, 2017, the following amendments shall be made namely:- In the aforesaid notification, for the words "first day of October, 2017 to thirty-first day of December, 2017", the words "first day of January, 2018 to thirtieth day of June, 2018" shall be substituted.

Copyright Business Recorder, 2018

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