President: (President signs ordinance to reduce withholding tax on banking transactions to 0.3 percent)


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.