New tax on profit from remittances

[mahmoodsalman (PAKISTANI-1)]

There is a proposal to impose a 10% tax on profits made on foreign remittances placed in savings accounts. I think this will adversely impact inflow of foreign exchange into the country. This country will now tax poor workers who send a majority of the forex that enables the government to pay its bills for bullet proof cars and vip protocol.

Http://tribune.Com.Pk/story/883319/on-stashed-cash-state-could-impose-10-tax-on-remittances/

[imranabbasandroid (Imran A. Khan)]

People will start using Hundi/Hawala and start smuggling gold from Iran and Afghanistan.

[athar_ikram (AIRana)]

I think it does would not affect too much. Poor workers send money for their family spending and not for savings. Even if it for savings, it is 10% of profit so it actually like reduction in profit rate. Your capital wont be touched.