The federal government has fixed the rate of markup chargeable on development loans and advances for the fiscal year 2021-22.
According to a notification issued by the Finance Division, the final rates of mark-up chargeable on the following categories have been fixed by the Federal Government:
The notification further stated that in the case of loans and advances for the purchase of conveyance and house building, the final rate of markup, i.e. 11.20 percent per annum, has been fixed for the fiscal year 2021-22.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan