- FBR released a draft withholding statement form for the online marketplace sector
- The form aims to enhance compliance and transparency in digital commerce
- Online marketplaces must file the statement as per proposed amendments to the Income Tax Rules, 2002
- Amendments align with Section 165C of the Income Tax Ordinance, 2001
- Online marketplaces providing courier services must file additional statements under Rule 44
- Couriers and payment intermediaries must submit quarterly statements electronically
- Deadlines for quarterly statements are April 20, July 20, October 20, and January 20
- The initiative is part of FBR’s strategy to streamline tax compliance in the digital economy
- It aims to ensure proper documentation and boost tax transparency in online platforms
Source: pkrevenue.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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