The Banks are clearly up to some mischief against the government. The Banks clearly want to blackmail the government with this misinformation in respect of the implementation of the 17.5% VAT. The banks have always taken charges on services they render to their costumers. It is on this service charge that the VAT is anchored on. The nature of services to be taxed are clearly limited,it is obviously not a charge on your salaries or deposits. If the bank performs custodial services to you,the charge on that service,17.5% must go for VAT. The banks resisted the initial implementation,but Ministry of Finance discussed the matter with them,I am surprised at this attitude of turning the people against govt. The 17.5% comes to some pesewas. The banks are making a lot of profits for what service?
Posted on: Tue, 22 Apr 2014 08:05:22 +0000
Trending Topics
Recently Viewed Topics
© 2015