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KARACHI: Under the instructions of Chief Commissioner, Large Taxpayer Unit, Karachi (LTU) Yasmin Saud, a meeting was held with the representatives of banks, financial institutions and corporate taxpayers on 9th March, 2010 in order to discuss issues arising in connection with the levy of 16 per cent Federal Excise Duty (FED) on services provided by banking and non-banking financial companies.
During the meeting, the representatives were encouraged to express their views and inform about the practical problems related to issuance of invoices. On the basis of this feedback, LTU will compile a report and make recommendations to FBR for formulating a uniform procedure for the issuance of invoices by banks and non-banking financial institutions for the facilitation of taxpayers. -PR |