IHC’s Landmark Ruling on ADR Formula: A Game-Changer for Pakistan’s Banking Taxation
Introduction Pakistan’s Banking Taxation the Islamabad High Court (IHC) has barred the Federal Board of Revenue (FBR) from recovering income tax from Askari Bank. The tax recovery was based on an assets-to-deposit ratio (ADR) formula, which the IHC deemed unconstitutional and retroactive. This decision not only affects Askari Bank but also raises important questions about […]
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