The FBR has announced that there will be no tax deduction on cash withdrawals below Rs per day . There will be a different rate for motor vehicles if the engine capacity is not applicable and the value of the vehicle is Rs million or more . The exemption from tax deduction will be available to the federal and provincial governments a foreign diplomat or a diplomatic mission in Pakistan or a person who produces a certificate from the commissioner that their income during the tax year is exempt .
The withholding tax rates on the sale and purchase of immovable property have been increased from pc to pc . To discourage unnecessary outflow of foreign exchange reserves withholding taxes on payment to nonresidents through a debitcredit card have also been increased to discourage unnecessary foreign exchange outflow from the country.
These payments to nonresident persons have a substantial impact on foreign exchange . The tax rates have also increased from PC to pc. The rates will be increased by two hundred per cent in the case of nonATL persons the rates will also be increased in the absence of a debit credit card have been decreased to PC for those who are not residential persons using a debit card .
This is an adjustable tax. This is to discourage outflows of foreign currency reserves. The rate of tax collectable will be an adjustabletax. This tax is an . adjustable tax and the person from whom this tax has been collected can adjust this tax is the person of the person .
.. to the person’s [tax] to be collected. The person from which tax has the person [may be] to the tax is to be an automatic tax. It is an automated tax. The amount of tax has to be assessed. The tax is not an automatic. It will not be an Automatic Tax.
