Government begins collecting new taxes on bank transactions

Govt Taxes All Bank Transactions, Banks Raise Fees

ISLAMABAD: Starting July 1, the federal government has implemented a sweeping tax policy that affects all types of bank transactions, whether you’re a filer or a non-filer. Alongside this move, banks have revised their service charges, significantly increasing the cost of everyday banking. Higher Withholding Tax on Cash Withdrawals Under the new policy: Filers now […] The post Govt Taxes All Bank Transactions, Banks Raise Fees appeared first on …

Government begins collecting new taxes on bank transactions

According to a news report, the government has imposed a 0.3% withholding tax on daily withdrawals exceeding PKR 50,000 for filers. Simultaneously, banks have also increased their scheduled charges, disregarding the distinction between filers and non-filers, in addition to the new taxes. Now, a 0.3% tax deduction has begun for filers on daily withdrawals exceeding PKR 50,000 via ATM or check at cash counters, while non-filers face a 0.6% deducti…

Currys Boss Urges Government Not To Raise Taxes On Retailers

The boss of Currys, the UK’s biggest electrical goods retailer, has urged the government not to increase taxes on retailers this year, saying it would damage investment and force prices to rise. Alex Baldock, the retailer’s chief executive, said: “We (more…) The post Currys Boss Urges Government Not To Raise Taxes On Retailers appeared first on KamCity.