KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Muhammad Adrees has urged upon the business people to file their tax returns before September 30, 2015 to avail exemption from 0.3 percent WHT on bank transactions.

He said that the business community held a meaningful discussion with the Federal Board of Revenue (FBR) during which a historical agreement was signed between the business community and FBR in the presence of Finance Minister Ishaq Dar. Under the agreement, he said that 0.3 percent WHT would be adjustable for non-filers on submitting their tax returns upto September 30.

He said that the turnover tax to be agreed according to various trades between FPCCI and FBR. He also informed that the extension of schedule III would be considered on sector to sector basis for sales tax.

Adrees said that during the discussion, the Finance Minister advised the Chairman FBR to address the problems of the business community.

He said that FBR also assured that the new tax filers would not be harassed by the tax authorities.—PR