Govt Proposes Reduced Withholding Taxes For "Market Development"

Federal Minister for Finance and Revenue Shaukat Tarin Friday announced that the government has proposed a reduced withholding tax regime to provide enabling environment for Market Development of regulated commodities

Islamabad, (UrduPoint / Pakistan Point News - 11th Jun, 2021 ) :Federal Minister for Finance and Revenue Shaukat Tarin Friday announced that the government has proposed a reduced withholding tax regime to provide enabling environment for Market Development of regulated commodities.

In his budget speech, the minister said the initiative of future markets development of regulated commodity markets was another important step of the government to provide enabling environment to logistic services.

Tarin said the market development would also provide warehousing services, and collateral management services on a reduced rate of 3 percent instead of 8 percent.

The trading of electronic warehouse receipt on Pakistan Mercantile exchange was being exempted from withholding taxes, he added.