Chartered Accountants Demand KIBOR+3% for Delayed Refund Payments
Chartered Accountants in Pakistan have raised concerns over the delayed refund payments by the Federal Board of Revenue (FBR). The Institute of Chartered Accountants of Pakistan (ICAP) has proposed that the FBR should pay interest at the Karachi Interbank Offered Rate (KIBOR) plus 3 percent for delayed refunds.