NA panel okays cash withdrawal hike, rejects online sales tax

NA panel okays cash withdrawal hike, rejects online sales tax

Tax relief for low-income salaried individuals reversed by cabinet, says FBR chief.

Decision to Increase Cash Withdrawal Limit for Non-Filers from Rs. 50,000 to Rs.75,000

ISLAMABAD: It has been decided to raise the cash withdrawal limit for non-filers from Rs. 50,000 to Rs. 75,000 Under the revised budget proposals for the fiscal year 2025-26, any amount withdrawn beyond the new limit will be subject to an additional advance tax of 0.8%, which is higher than the current year’s 0.6%.Under these budget proposals, the cash withdrawal limit for non-filers has been increased from Rs.50,000 to Rs.75,000 On the other ha…

Budget 2025-26: Govt proposes revised tax on cash withdrawal from ATM

ISLAMABAD: The Federal Board of Revenue (FBR) is expected to increase the tax-free cash withdrawal limit to Rs. 75,000 from Rs. 50,000 per day for non-filers, under the Finance Bill 2025-26, ARY News reported. Earlier, non-filers were able to withdraw up to Rs. 50,000 without suffering an advance tax charge. During a briefing to the National Assembly Standing Committee on Finance, FBR authorities proposed that, according to the new cash withdra…

New WHT rate as limit for cash withdrawals from banks increased to Rs75k - Pakistan Observer

ISLAMABAD – The federal government has proposed increasing the withholding tax rate on cash withdrawals by non-filers from 0.6 percent to 0.8 pc, while also raising the threshold from Rs50,000 to Rs75,000. Reports said it was revealed by the Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial during a meeting of the National Assembly’s Standing Committee on Finance. He said a 1% tax rate on cash withdrawal was mistakenly wrote in the…

Govt targets Google, YouTube, Facebook with higher taxes — Massive new property & salary tax changes revealed

Federal Board of Revenue (FBR) Chairman Rashid Langrial has announced a proposal to raise the advance tax on digital platforms such as Google, YouTube, and Facebook from the current 10% to 15%. This initiative aims to encourage these tech giants to set up offices in Pakistan. Companies that operate locally will benefit from a reduced tax rate of just 5%. During a session of the National Assembly’s Standing Committee on Finance, it was also discl…

Non-filers: Govt decides to hike cash withdrawal limit to Rs75,000

ISLAMABAD: The government has decided to increase limit from Rs50,000 to Rs75,000 for charging enhanced rate of...