Tag: Backfiring

Backfiring of enhanced WHT on telecom sector

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THE INCUMBENT government in its first annual budget for the year 2013-14 has come up with an aggressive but innovative’ style to increase as well as expand the tax net in Pakistan. As part of this strategy, it has not spared the IT and telecom sector as it has slapped another five per cent withholding tax from the old 18 per cent to 25 per cent on this sector from July 1, 2013. This raise in withholding tax would further put an extra burden on the already heavily taxed telecom sector, rather…Read More