The Federal Board of Revenue (FBR) and Pakistan Banks Association (PBA) will discuss issues of refunds and withholding tax collection by banks with emphasis on "Filers and Non-Filers" at the PBA office Karachi on Monday(April 20).
Sources told Business Recorder here on Sunday that the meeting is expected to be attended by FBR officials, Chief Commissioner Large Taxpayer Unit (LTU) Karachi and CFOs of all major banks. The first issue is related to the quantum of refunds to be paid to the banks and continued payment of compensation on it. The second issue for the FBR is the banks to provide information about the tax deducted/withheld on account of payment of profit on debt and cash withdrawal from the non-filers of income tax returns.
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