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020719
GOVERNMENT
OF PAKISTAN REVENUE DIVISION CENTRAL BOARD OF REVENUE
C.No.3(8)SS(WHT)/99-2000-Pt
Islamabad, July 19, 2002.
CIRCULAR NO.10 OF 2002.
(INCOME TAX)
SUBJECT:
RATE OF WITHHOLDING TAX ON BROKERAGE AND COMMISSION UNDER SECTION 233 OF THE INCOME TAX ORDINANCE, 2001.
Section 233 of the Income Tax
Ordinance, 2001 provides that in the case of any payment on account of brokerage or
commission, made by the Federal Government, a Provincial Government, a local authority, a
company or an association of persons constituted by or under, law, as principal to any
person/agent advance tax shall be deducted by the principal from the said payment at the
specified rates.
2. It is clarified for the information of all concerned that rates of withholding tax
on brokerage and commission has been reduced from 10% to 5% w.e.f. Ist July, 2002.
Besides, it is adjustable against final tax liability of the taxpayer.
3. All withholding agents are, therefore, advised to deduct tax, while realising the
payment on account of commission @ 5% w.e.f. Ist July, 2002.
(Agha Muhammad Shah)
Secretary(WHT)
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