Tag: WHT

Pre-paid cell phone users robbed of Rs40b over WHT

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article image STAFF REPORT ISB: The pre-paid mobile phone users were robbed of by Rs. 40 billion, when 14 percent withholding tax was automatically deducted from every card recharge they made last year. The Federal Board of Revenue received Rs. 43 billion on account of withholding tax during 2014-15. Only 0.9 million out of 120 million total users deposited tax return claims and got back what they paid in advance. The remaining amount of more than Rs.40 billion was automatically confiscated by the…Read More

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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