Gujranwala: Federal Board of Revenue (FBR) Gujranwala has come into action to recover Withholding Tax (WHT) from hundreds of contractors, suppliers and companies of federal and provincial departments, according to a news report. Divisional and district heads of the relevant departments have been notified regarding this operation. They will be liable to recover all WHT and send it to the Regional Tax Directorate.
PKR 1 billion WHT is expected to be recovered through this action. According to details, previously WHT of 5% was levied from contractors, suppliers, and companies, but now 6.5% will be levied. Authorities are expecting an additional PKR 250 million due to this. The department heads have been notified to deduct taxes at the new rates.