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Business Pakistan

Taxes on online banking transactions are being considered by the government.

Government Planning to Impose Tax on Online Banking Transactions

The government is considering levying a withholding tax on banking transactions as well as on cash withdrawals from banks and financial instruments.

The plan has been created by the Federal Board of Revenue (FBR) as a significant revenue-generating move, according to the senior officials, but it has not yet been finalised or approved by the Finance Minister.