Biannual filing must be clarified

KARACHI: Tax practitioners have urged the Federal Board of Revenue (FBR) to clarify bi-annual filing of withholding statement.

In a letter sent to FBR chairman on Thursday, the Karachi Tax Bar Association (KTBA) said the withholding statement was to be submitted biannually under Finance Supplementary (Second Amendment) Act, 2019.

The act was implemented on March 12, 2019, the tax bar said, adding that many taxpayers had already filed their statements for the months of January and February.

The FBR on July 17, 2019 notified rules for implementing the biannual filing of withholding statements. The first biannual filing was due on July 31, 2019.