FBR increases WHT rates on commercial imports

ISLAMABAD: The FBR has jacked up withholding tax rates on commercial imports on other goods imported by commercial importers from 5.5 percent to 6 percent in the Finance Bill 2023-24.Through the Finance Bill, the government did not bring any change in the tax rate of 1 percent on capital goods imported by commercial importers. The rate of withholding tax will remain unchanged at 2 percent on raw materials imported by industrial undertakings. The rate on raw materials imported by commercial importers will also remain unchanged at 3.5 percent.