KIBOR+ additional amount to be paid for delayed refunds

Section 171 of Income Tax Ordinance, 2001 explains KIBOR (Karachi Interbank Offered Rate) plus additional amount to be paid for delayed refunds. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 171 of Income Tax Ordinance, … Continue reading KIBOR+ additional amount to be paid for delayed refunds