Tax Consultancy, Taxation

Credit for tax collected or deducted Section 168(3)

Posted on by Muhammad Waheed Ensari

Credit for tax collected or deducted Section 168(3)

The Finance Act has approved that no tax credit shall be allowed for any tax collected or deducted that is a final tax on the:

(a) income of non-resident person for foreign produced commercial for advertisement on any television channel or any other media; and

(b) income of the non-resident company arising out of capital gain on the disposal of debt instruments and Government securities including treasury bills and Pakistan investment bonds invested through SCRA.

Muhammad Waheed Ensari

Founder & CEO, BeSpoke Consulting and Training with 20+ Years of Professional Experience (International and National) in the field of Business Development, Taxation, Accounting, Finance & Auditing with good understanding of financial management system. Strong exposure in the field of general accounting, G/L maintenance, financial reporting and Internal control procedures. Expert in handling people of diverse nationalities, and renowned for being an excellent team player with a positive “can do” attitude. Energetic & self-motivated with a high degree of cultural sensitivity.

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