Withholding tax on banking transactions reduced to 0.3%

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.

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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.

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