At M&M Global Nexus, we offer seamless and accurate withholding taxes statement filing services to help individuals and businesses stay fully compliant with FBR regulations. Whether you're a company deducting tax on payments to vendors, employees, or contractors, or an individual required to file withholding statements, our experts ensure every detail is captured and submitted correctly. We manage data preparation, filing timelines, and compliance protocols — reducing the risk of penalties while keeping your financial records transparent and up to date.
Withholding tax on salary payments to employees under Section 149 of the Income Tax Ordinance.
Withholding tax on payments to suppliers of goods and services under Sections 153(1)(a) and 153(1)(b).
Withholding tax on rent payments for immovable property under Section 155 of the Income Tax Ordinance.
Withholding tax on banking transactions including cash withdrawals and demand drafts under Section 231A and 231AA.
Withholding tax on import of goods and services under Section 148 and export proceeds under Section 154.
Withholding tax on dividend payments under Section 150 and interest/profit on debt under Section 151.
Contact our expert team today for professional withholding tax statement filing services. We'll handle all the complexities while ensuring full compliance with FBR regulations.
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Withholding taxes in Pakistan are a form of advance tax collection where the payer deducts a certain percentage of tax from payments made to suppliers, service providers, employees, and others as specified under various sections of the Income Tax Ordinance, 2001. These taxes are then deposited with the government treasury on behalf of the recipient.
All withholding agents, including companies, associations of persons (AOPs), individuals with business income exceeding certain thresholds, and government bodies who make payments subject to withholding tax provisions are required to file withholding tax statements.
Monthly withholding tax statements must be filed by the 15th of the following month, while annual withholding tax statements must be filed by July 31st following the end of the tax year (June 30th).
Late filing of withholding tax statements can result in penalties of Rs. 10,000 for each statement, and in case of continued default, a further penalty of Rs. 50,000 may be imposed. Additionally, failure to file statements can lead to prosecution and potential imprisonment.
Yes, withholding tax statements can be revised if errors are discovered. However, it's best to ensure accuracy in the initial filing to avoid scrutiny from tax authorities. Revisions should be made as soon as errors are identified.
Professional services like ours help ensure accurate preparation and timely filing of withholding tax statements, proper record-keeping, compliance with changing tax laws, representation during audits, and strategic advice to optimize withholding tax management while avoiding penalties.