Tax on credit, debit-card payments to non-residents hiked by 400%

Residents wearing facemasks wait for their turn to withdraw money outside a bank in Islamabad on March 30, 2020. (AFP/File)

July 31: In a bid to discourage outflows of foreign exchange reserves, the Federal Board of Revenue (FBR) jacked up the withholding tax (WHT) on payments to non-resident persons through debit cards and credit cards by 400%, The News reported Monday. Read more I