Flour millers claim deal with govt over withholding tax mechanism

LAHORE: The flour milling ind­ustry has decided to normalise its operations after reaching an agreement with the federal government over the issue of withholding tax (WHT) mechanism, which had been announced in the federal budget.

During negotiations between the federal government and the Pakistan Flour Mills Association (PFMA), the two sides agreed that Section 153-A of the Income Tax Act would not apply to flour mills and instead they would sell flour under a commission system, said PFMA...