May 28, 2008	Wednesday	Jamadi-ul-Awwal 22, 1429

KARACHI, May 26: Small and Medium Enterprises Development Authority (Smeda) and Income Tax Bar Association Karachi (ITBAK) on Tuesday signed a memorandum of understanding (MoU) to cooperate in compliance of tax laws applicable to the SMEs.

The MoU was signed at the Bar chamber in Income Tax House, Karachi, by Muslim Raza of Smeda and Abdul Qadir Memon, president ITBAK.

The MoU will require the two parties to work jointly to create awareness of laws and disseminate legal knowledge among the SMEs regarding their legal rights, privileges and compliance with tax laws and regulations.

It was agreed that both the parties will create awareness of tax laws by conducting seminars and training courses for business community in general and SMEs in particular.

The ITBAK will provide resource persons for these seminars

It was also agreed that Smeda will work for establishing third party facilitation centres at various trade and SMEs associations to provide their members legal help at their doorstep.

ITBAK will provide resource persons free of cost to give legal help through these centres.