09-26-2009, 08:54 PM
Thanks a lot dear Faisal and Awais
Faisal you are correct. I appreciate for your timely given information.Taxes on Print media advertisements were abolished with effective from 1st of July 2009. prior to that advertising agencies were deducting Taxes from our bills.
But I need to know one more thing, we got advertisement from various organization including CDGK.CDGK Advertisements are released to us through a agency namely kimco,Normally Kimco release the payments of ads after 90 days. so my question is that "The accountant of Kimco Mr Umar Rathore has been deducting 6 percent WHT from our payments, I told him that 6 percent Tax has been abolished since 1st of July so he could not deduct that tax from our bills payment. But that acounatnt of Kimco said that since the ads were released in May June 2009 period so we(Yahoo News ) are liable to pay 6 Percent WHT from our payments which are given to us in September 2009.
To cut the story short. Can any ad agency deduct the 6 Percent WHT from the payments which are given to us after 15th September 2009? although the Release orders of Ads were issued in May June 2009 and ads were subsequently published in Yahoo News in May June 2009. but the payment was issued to us after 15 September.
Kindly elaborate whether the Accountant of Kimco is correct or not?
Thanks a lot for your precious advices
Faisal you are correct. I appreciate for your timely given information.Taxes on Print media advertisements were abolished with effective from 1st of July 2009. prior to that advertising agencies were deducting Taxes from our bills.
But I need to know one more thing, we got advertisement from various organization including CDGK.CDGK Advertisements are released to us through a agency namely kimco,Normally Kimco release the payments of ads after 90 days. so my question is that "The accountant of Kimco Mr Umar Rathore has been deducting 6 percent WHT from our payments, I told him that 6 percent Tax has been abolished since 1st of July so he could not deduct that tax from our bills payment. But that acounatnt of Kimco said that since the ads were released in May June 2009 period so we(Yahoo News ) are liable to pay 6 Percent WHT from our payments which are given to us in September 2009.
To cut the story short. Can any ad agency deduct the 6 Percent WHT from the payments which are given to us after 15th September 2009? although the Release orders of Ads were issued in May June 2009 and ads were subsequently published in Yahoo News in May June 2009. but the payment was issued to us after 15 September.
Kindly elaborate whether the Accountant of Kimco is correct or not?
Thanks a lot for your precious advices
