The un-documented economy of Pakistan has been a curse, resulting in low tax to GDP ratio. Consequently, the withholding tax regime has become vital in the taxation system of Pakistan. WHT is an act of deduction or collection of tax at source, through withholding tax agents, which has generally been in the nature of an advance tax payment.
More than 70% tax is being collected through WHT Regime under direct taxes. Since 2007, Withholding Regime was extended for Indirect Taxes (Sales Tax) as well. Initially, Public Sector was made withholding Agent under Sales Tax Law which later was extended to Large Tax Payers. Recently, FBR has further extended the scope to all Companies which would have signification implications.
Our consulting team represents qualified and experienced members of the Internationally recognized accounting bodies i.e. Institute of Cost & Management Accountants of Pakistan (ICMAP), Pakistan Institute of Public Finance Accountants (PIPFA).
Institute of Corporate Secretaries of Pakistan, High Court Bar Association, District Bar Association & Tax Bar Association and has diverse backgrounds with expertise in the areas of professional consulting.