FBR imposes new tax on wedding halls

The Federal Board of Revenue (FBR) has imposed withholding tax on marriage halls, which will be collected separately from the booking party and not from the hall owners. A delegation of Shadi Hall Association met the FBR officials in Karachi, where they agreed to this. A 10% withholding tax will be levied on marriage ceremonies. According to Rana Rais, president of the Wedding Hall Association, 10 percent of the withholding tax will be charged to the booking party for hosting the function at the wedding hall.. He added that this decision has been taken under the guidance of FBR officials, and the tax will be added to the rent of the marriage hall. He clarified that withholding tax has nothing to do with marriage hall owners. Meanwhile, the Federal Board of Revenue (FBR) missed its five-month tax target by Rs 356 billion, collecting Rs 4.28 trillion instead of the required Rs 4.64 trillion. It is the fourth monthly shortfall in five monthsThe November target was also missed by Rs 166 billion. Despite efforts such as a Rs 32.5 billion incentive package and foreign consultancy, tax collections remained below expectations. The IMF has expressed concern, particularly about missing targets for indirect taxes such as sales tax and customs duties. Income tax exceeded its target, but other taxes fell. A mini-budget may be considered if December receipts do not improve.