FBR levies 5% advance tax on weddings, concerts and other functions

On Friday, the Federal Broad of Revenue (FBR) imposed 5% advance tax on different functions including wedding and concert. The tax has been levied under Section 236D of the Income Tax Ordinance 2001. The notification of FBR stated: “Every prescribed person shall collect advance tax at the rate of 5% on the total amount of the bill” It is pertinent to mention that the tax will be applicable on bills