The government wants to put a tax on cash withdrawals from banks by people who don’t pay taxes.
Sources told ProPakistani that the Federal Board of Revenue (FBR) is thinking about putting a withholding tax on cash withdrawals, bank instruments, and banking transactions by non-filers in the next budget.
The suggested withholding tax on bank transactions by people who don’t pay taxes will bring in about Rs. 45 billion.
On the other hand, the government has chosen to get rid of taxes that have less of an effect on direct tax income in the next budget (2023–24).
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In the previous week, the price of gold in Pakistan increased somewhat
Sources told ProPakistani that the low return withholding taxes could be taken away in the next government budget (2023-24).
Under the mini-budget from February 2023, section 236CB was added to collect an advance tax of 10% of the total bill from anyone who plans or holds an event in a marriage hall, tent, hotel, restaurant, business field, club, etc.