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FBR makes advance tax payment mandatory for remitting amount abroad

FBR makes advance tax payment mandatory for remitting amount abroad

ISLAMABAD: Federal Board of Revenue (FBR) has made it mandatory for persons making payments abroad to pay taxes seven days prior to remitting the amount to non-resident.

The FBR issued SRO 1314(I)/2017 to amend Rule 43B of Income Tax Rules, 2002. A clause 2 has been added to the rule related to time of payment of tax collected or deducted.

The FBR said, in case of remittance abroad to non-resident, seven days before the amount is intended to be remitted abroad to that non-resident, through State Bank or any banking company.