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CHAPTER 11 Withholding Tax (Federal) The Sales Tax Act, 1990 SALES TAX SPECIAL PROCEDURE (WITHHOLDING) RULES, 2007 S.R.O. 660(I)/2007, Islamabad, 30th June 2007.In exercise of the powers conferred.

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Liability to Pay the Tax The liability to pay the sales tax in case of goods being supplied lies upon the consumer whereas the liability to pay the sales tax of imports lies upon the importer ing to section 3 of the Sales Act 1990.

You are a withholding agent if you are a U.S. or foreign person that has control, receipt, custody, disposal, or payment of any item of income of a foreign person that is subject to withholding.

Tax withholding refers to the income tax an employer removes from an employee's paycheck and sends to the Internal Revenue Service (IRS) on the employee's behalf. Withholding allows the payer to manage their tax bill gradually, rather than owe one large bill come tax season.

VAT (locally termed as 'sales tax') is ordinarily levied at 18% on the value of goods, unless specifically exempt or subject to sales tax at a reduced rate, after allowing related input credits. Sales tax on services is levied by Islamabad Capital Territory, Azad Jammu, and Kashmir at rates ranging from 13% to 16%.

Sales Tax is chargeable on all locally produced and imported goods except computer software, poultry feeds, medicines and unprocessed agricultural produce of Pakistan and other goods specified in Sixth Schedule to The Sales Tax Act, 1990.

Pass-through entities who withhold tax on behalf of nonresident owners or have been withheld upon are called withholding agents and are required to file Form 592-PTE on an annual basis to allocate withholding. PTE owners who have been withheld upon are called payees. Examples of pass-through entity payees: Partners.

A withholding agent shall file and pay to the Commissioner-General within fifteen (15) days after the end of the month a statement in the prescribed form and tax withheld.

A withholding agent is responsible to withhold tax on payments of U.S. sourced, FDAP income to foreign persons and to make deposits of such tax to the U.S. Treasury absent an applicable exclusion provided by the Code or an applicable income tax treaty.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232