The tax rates on cash withdrawals and real estate transactions have been increased by the Federal Board of Revenue (FBR).
The most recent actions are intended to increase revenue collection from those who are not on the active taxpayer list and to improve tax compliance.
The tax deduction for non-filers’ cash withdrawals from banks has been raised by the FBR. This is the new tax rate:
0.8% on withdrawals over Rs 50,000 per day
For the same threshold, the rate used to be 0.6%.
