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Tax on banking transactions reduced - Zameen News

Tax on banking transactions reduced

July 13, 2015 • news

Tax on banking transactions

ISLAMABAD: President Mamnoon Hussain has approved an ordinance for the reduction of withholding tax on banking transactions from 0.6% to 0.3% for non-filers.

Reportedly, the ordinance will remain effective from July 11 to September 30, which is set to be the last date for filing tax returns.

According to a news source, Federal Broad of Revenue and business community representatives had reached an agreement on the reduction in tax rate on July 9.