ISLAMABAD: The Federal Board of Revenue (FBR) has directed the banks to refund or adjust the withholding tax on bank instruments, which has been deducted at the rate of 0.6 percent till
The government has reduced the deduction of withholding tax from 0.6 percent to 0.3 percent till 30-9-2015 through a Presidential Ordinance issued on July 11, 2015, says a press release issued by the FBR.
It has been reported to the FBR that some of the banks are still deducting tax on bank instruments of non-filers @ 0.6 percent. Now the FBR has directed the banks to refund/adjust the deducted amount, concluded the press release.
