FBR updates withholding tax card on import of goods

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ISLAMABAD: Federal Board of Revenue (FBR) has updated the withholding income tax on import of various goods, which will be collected by collector of customs at the time of clearance.
According to updated withholding tax card issued by FBR, the tax under Section 148 of Income Tax Ordinance, 2001 to be collected from every importer of goods on the value of goods.
The income tax return filers are required to pay one percent and non-filers are required to pay 1.5 percent on import of:
(i) Industrial undertaking importing remeltable steel (PCT Heading 72.04) and directly reduced iron for its own use;
(ii) Persons importing potassic of Economic Coordination Committee of the Cabinet’s decision No. ECC-155/12/2004 dated the 9th December, 2004
(iii) Persons importing Urea;
(iv) Manufactures covered under Notification No. S.R.O 1125(I)/2011 dated the 31st December, 2011 and importing items covered under S.R.O 1125(I)/2011 dated 31st December, 2011.
(v) Persons importing Gold; and
(vi) Persons importing Cotton
(vii) Designated buyers of LNG on behalf of Govt of Pakistan to import LNG
The FBR said that the persons importing pulses are required to pay two percent in case of filer and 3 percent in case of non-filers.
Commercial importers covered under Notification No. S.R.O 1125(I)/2011 dated the 31st December, 2011 and importing items covered under S.R.O 1125(I)/2011 dated the 31st December, 2011, are required to pay three percent and 4.5 percent in case of non-filers.
The ship breakers on import of ships, in case of filers to pay 4.5 percent and in case non-filers 6.5 percent.
Industrial undertakings not covered under above conditions will required to pay at 4.5 percent in case of filers and 6.5 percent in case of non-filers.
Companies not covered under above conditions will pay at 5.5 percent in case of filers and 8 percent in case of non-filers.
The FBR said that persons not covered under above conditions will pay 6 percent in case of filers and 9 percent of non-filers.

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