"The possibility of tax on transactions of Rs 50,000 per day from the bank has been revealed. According to sources, tax proposals are being worked on in the Ministry of Finance to meet the conditions of the IMF. Withholding tax may be levied on bank transactions of more than Rs 50,000 per day.
It has been learned that the proposed tax will not be applicable on the persons included in the list of active tax payers, while the FBR authorities have estimated the revenue of Rs 45 to 50 billion from the imposition of withholding tax on non-filers. It has been reported that some other proposals for the proposed Presidential Ordinance on the increase in taxes are also being worked on."
This may have an impact on the Winning Pakistan ministry. Withholding tax may be levied on bank transactions of more than Rs 50,000 [US$190.06] per day. Please join us in prayer for Pakistan during these uncertain times.
Source: Developing Pakistan
Here we will share share regular updates, stories, testimonies, and even miracles as they are taking place in Pakistan! Check the Categories section below to find something specific.
This work by Winning Pakistan is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.