Govt to impose Withholding tax on online markets from Sept 1

August 5, 2021 (MLN): The Fed­eral Board of Revenue (FBR) has issued a notification for the imposition of withholding tax on online markets that shall be effective from September 1, 2021.

On Wednesday, FBR announced this decision through a notice “SRO984-2021”

In the budget 2021-22, the government had proposed a withholding tax at the rate of 2% of the gross value of supplies made by persons other than active taxpayers.

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Posted on: 2021-08-05T12:48:00+05:00