pic from google

The Karachi Tax Bar Association (KTBA) wrote a letter to Asim Ahmed, chairman of the Federal Board of Revenue (FBR) in which it mentioned that banks are illegally deducting withholding tax on exports of software and IT-based services. It mentioned that banks misunderstood Section 154A of the Income Tax Ordinance, 2001as under section 65 of this ordinance 100 percent tax credit is allowed.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Amazon to cut 9,000 more jobs

It emerged that Amazon, the world’s largest online retailer, would lay off…

China curbs exports of key chipmaking components to US

In a tit for tat move Beijing Tuesday said it would restrict…

Forex reserves decline by millions

Due to external debt rebates, forex reserves of SBP have declined by…

FBR Shifts Tajir Dost Scheme Focus to High-Potential Retailers

The Federal Board of Revenue (FBR) has revised the Tajir Dost Scheme,…