Financial Risk Manager

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Witholding tax on freight charges

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According to section 153 (Payments for goods and services) of Income Tax Ordinance, 2001 every prescribed person making a payment in full or part including a payment by way of advance to a resident person or permanent establishment in Pakistan of a non-resident person is required to deduct tax

Payment to transporters on account of freight charges are covered under rendering of services. Every prescribed person is required to deduct withholding tax @ 2.00% as mentioned in 2(i) division III, part III of first schedule of Income Tax Ordinance, 2001.

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posted @ 2:57 PM,

2 Comments:

At February 13, 2009 at 3:50 PM, Anonymous Anonymous said...

Are accountants jumping on the blog bandwagon with the pundits and the journalists? Not in great numbers. But your blog seems to be very useful one. Keep it up man.

 
At February 16, 2009 at 6:15 PM, Anonymous sammar said...

what about Rate of Tax Deduction on Sea Freight paid to shipping company

 

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