An interactive workshop on tax management system of deduction and payment of withholding tax on Saturday highlighted the various aspects and procedure for payment of withholding tax.
The workshop organised by Regional Commissioner of Income Tax (RCIT) Corporate Region Karachi at Institute of Chartered Accountants of Pakistan (ICAP) shed the light on Withholding Tax (WHT) importance, WHT vis-à-vis salaried person and software developed by Central Board of Revenue (CBR) on tax management system for WHT.
Regional Commissioner of Income Tax (RCIT) Ibrar Ahmed speaking at the workshop and later talking to newsmen stressed upon the payment of taxes correctly and said that sharing of responsibility of deducting and timely payment of WHT would strength the economy of Pakistan.
On revenue collection of southern region Karachi he disclosed that collection figures in first five months of this financial year show around 20-21 percent growth against the same in the same period of last year.
While pointing out that renovation of Income Tax building is in process he mentioned that under the new tax culture, the tax authorities role is to facilitate the taxpayers by providing them all possible facilities.
Ibrar Ahmed said that in new concept of businessmen-government partnership, the process of facilitation is aimed at voluntarily compliance of tax laws.
On WHT, he pointed out that it is a major contributor in overall tax collection with the easiest collection procedure at less cost.
Earlier, Deputy Commissioner of Income Tax (DCIT) Mehtab Bangash, DCIT Zia Agro and Faward Yousafzai gave their presentation on various aspects of WHT.