ISLAMABAD (Staff Report) – Federal Finance Minister Ishaq Dar on Tuesday announced to increase withholding tax on bank transactions from 0.3 percent to 0.4 percent, which will be effective immediately.

Talking to newsmen after a meeting representatives of business community in Islamabad, Dar also announced to extend the date of filing tax returns up to March 15.

On the occaion, he urged businessmen to take advantage of the tax compliance scheme. He said the scheme is aimed at increasing the tax net.