ISLAMABAD – Federal Board of Revenue (FBR) has clarified that the Government has not revised rates or limits for tax on cash withdrawal from bank accounts and on the issuance of cash denominated bank instruments.
The Radio Pakistan reports that while rejecting news appearing in some sections of media in this regard, FBR’s spokesperson said there has been no change in cash limits or tax rates in any of the two provisions of law.
He further clarified that these withholding provisions are applicable only to non-filers.
Meanwhile, Minister of State for Revenue, Hammad Azhar in a Tweet message also clarified that there has been no change in cash limits or tax rates on cash withdrawal from the bank accounts.
https://twitter.com/Hammad_Azhar/status/1110885994423873536
He further clarified that these withholding provisions are applicable only to non-filers.
