The federal government and traders representatives are expected to reach a deal over the recently imposed withholding tax on banking transactions in a bid to bring no-filers into the tax net.
As per reports, one more round of dialogue between government representatives and traders leaders was held on Friday. During the dialogue, trader leaders reportedly agreed to withdraw the demand of complete elimination of withholding tax and gave suggestions in this regard.
According to reports, it is likely that withholding tax would be reduced to 0.1 per cent on banking transactions of more than Rs 300,000. The government representatives reiterated to convey all the demands of traders to authorities concerned and expressed the resolve to reach some logical conclusion after consultations.