Extends last date for 0.4pc withholding tax
Islamabad—Finance Minister Ishaq Dar, Tuesday, directed Ministry of Finance to work together with Aviation Division and PIA to provide the resources necessary to ensure continued operations of the airline.
Chairing a meeting to review the financial status of PIA, Finance Minister said that the government was implementing strict financial discipline and it was important that the available resources are utilized in the most economical and prudent manner. He added that PIA being the national airline will be provided all possible support and resources.
Secretary Aviation gave a detailed briefing on the financial situation of the airline. He explained that various steps had been taken in the recent past to improve the performance of the national flag carrier, which had yielded positive results.
The airline however, needed continued financial support of the government to continue its operations. He presented the financial requirements of PIA during the next quarter ending in June 2016. The meeting noted that the recent strike by PIA employees had resulted in a loss of Rs.4.3 billion to the airline, and had accentuated its financial problems.
Minister Ishaq Dar, meanwhile, extended the date for filing of income tax returns/statements by individuals and associations of persons to the 21st of the current month. While the last date for filing of tax returns for traders under the Voluntary Tax Compliance Scheme was extended up to the end of current month (March 31).
Finance Minister in the capacity of Chairman Economic Coordination Committee (ECC) of the Cabinet accorded approval for extension in the period of concessionary rate of 0.4% withholding tax on banking transactions by non-filers up to March 31. He granted these approvals in a meeting with a delegation of traders and members of business community. Special Assistant to Prime Minister on Revenue, Haroon Akhtar, MNA Mian Abdul Manan and Chairman FBR, Nisar Mohammad Khan were also present.
Finance Minister, Senator Mohammad Ishaq Dar on this occasion said that the government fully believed in providing maximum facilitation to tax payers.