5pc advance tax on air ticket adjustable


KARACHI: The Federal Board of Revenue (FBR) has said that 5 percent withholding tax deducted on purchase of domestic air ticket is adjustable against total annual income tax liability.
According to Withholding Tax Card 2017/2018 updated by the FBR, stated that under section 236B of Income Tax Ordinance, 2001 the five percent advance tax on purchase of air ticket is adjustable.
The person preparing air ticket is required to deduct five percent of gross amount of ticket from purchaser of domestic air travel ticket at the time of realization of sale proceeds.

Copyright © Pakistan Revenue pkrevenue.com