KARACHI: In yet one more blow to already burdened residents, the Federal Board of Revenue (FBR) has imposed a ten% withholding tax on marriage halls, which will likely be borne by occasion organisers.
In an announcement issued on Friday, Rana Raees — President of the Marriage Hall Association — stated that the tax will likely be collected from the get together organising the occasion, separate from the corridor’s rental fees.
He clarified that marriage corridor homeowners have “nothing to do with the withholding tax”.
The resolution was made following FBR directives to streamline tax assortment within the sector, the affiliation’s president added.
The tax assortment physique confronted an enormous income shortfall in attaining the assigned goal of Rs1,003 billion, as the whole assortment thus far stands at round Rs855 billion for November 2024, reflecting a spot of Rs149 billion.
The FBR had made inside projections that it’d face a shortfall of Rs321 billion for the primary half (July-Dec) interval, however the shortfall already exceeded this and stood at Rs338 billion in 5 months.
The FBR has collected Rs4.3 trillion in 5 months of FY2024-25. Now, it must fetch revenues of Rs1.71 trillion this month to attain an indicative goal of Rs6.009 trillion by December 31, 2024, below the IMF programme.
