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Reading: FBR Imposes 10% Withholding Tax on Marriage Halls
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Withholding Tax Marriage Halls
PhotoNews Pakistan > Business > FBR Imposes 10% Withholding Tax on Marriage Halls
Business

FBR Imposes 10% Withholding Tax on Marriage Halls

Web Desk
By Web Desk Published December 6, 2024 1 Min Read
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An illustrative image of a Stage in Marriage Hall. Photo Credits: Adobe Stock
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According to the Marriage Hall Association, the Federal Board of Revenue (FBR) has introduced a 10% withholding tax on marriage halls, which event organizers will pay.

On Friday, Rana Raees, the association’s president, announced that this tax would be levied on the party organizing the event and the hall’s rental fees. He emphasized that marriage hall owners are not responsible for this tax.

شادی ہالز پر 10 فیصد ودہولڈنگ ٹیکس فائلر ایڈجسٹ کر سکتا ہے، رانا رئیس
بول نیوز سے براہ راست: https://t.co/qeRYCpA0js#BOLNews #BreakingNews pic.twitter.com/q3jt38GtGw

— BOL Network (@BOLNETWORK) December 6, 2024

Raees added that this measure follows FBR’s directives to enhance tax collection within the sector.

The tax authority is currently addressing a significant revenue shortfall. As of November 2024, it had collected approximately Rs855 billion, falling short of the Rs1,003 billion target by Rs149 billion.

The Federal Board of Revenue (FBR) has imposed a 10% withholding tax on marriage halls, which according to the Marriage Hall Association, would be born by the event organisers. In a statement issued on Friday, association president Rana Raees said that the tax will be collected… pic.twitter.com/4EsgSxlp4D

— The Frontier Voice (@thefrontiervoic) December 6, 2024

The FBR initially projected a Rs321 billion shortfall for the first half of the fiscal year (July-Dec). Still, the deficit surpassed Rs338 billion in just five months.

To meet the goals of the International Monetary Fund (IMF) program, the FBR must collect Rs1.71 trillion in December 2024 to reach the six-month target of Rs6.009 trillion. As of now, it has gathered Rs4.3 trillion in the first five months of FY2024-25.

TAGGED:FeaturedKarachi
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