Business News

Withholding tax on banking transactions reduced to 0.3%

Latest Update: July 12, 2015 | 235 Views
Mamnoon-hussain

ISLAMABAD: President Mamnoon Hussain has signed an ordinance to reduce the rate of withholding tax on banking transactions from 0.6 per cent to 0.3 percent.

The ordinance comes into force with immediate effect.

The move came after an agreement between the government and traders associations regarding adjustment in withholding tax and other FBR related matters.