The clarification requires all banks to issue monthly periodic statements to their customers registered for VAT with the required particulars within ten days after the end of the month to which a tax period relates so as they can claim VAT charged by banks on financial transactions.  The periodic statements legally qualify as EFD receipts and are allowed to be used as evidence when submitting VAT monthly returns and claims.

The clarification is in line with the amendment made in Regulation 35(A) (1) of the VAT Act of 2018.

For details on the clarification refer to the above image.