{"id":50864,"date":"2019-03-28T17:49:06","date_gmt":"2019-03-28T12:49:06","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=50864"},"modified":"2019-03-29T11:31:54","modified_gmt":"2019-03-29T06:31:54","slug":"no-changes-made-to-tax-rates-for-banking-transactions-minister-clarifies","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/no-changes-made-to-tax-rates-for-banking-transactions-minister-clarifies.html","title":{"rendered":"No changes made to tax rates for banking transactions, minister clarifies"},"content":{"rendered":"<p>Islamabad: The federal government has made no changes to cash limits or tax rates on withdrawal from bank accounts, a news source quoted Minister of State for Revenue Hammad Azhar as saying.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/no-withholding-tax-on-filers-bank-transactions.html\">No withholding tax on filers\u2019 bank transactions<\/a><\/p>\n<p>Several sections of the media claimed on Wednesday that a small percentage (0.6%) would be deducted as tax from financial transactions exceeding PKR 25,000 for non-filers.<\/p>\n<p>Refuting the reports, the minister clarified that the only change made through the <a href=\"https:\/\/www.zameen.com\/news\/mini-budget-passed-by-na.html\">Second\u00a0Finance Supplementary Act 2019<\/a> is concerned with taking out tax filers from the scope of the relevant law. He added that withholding provisions are applicable to non-filers.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/number-of-tax-filers-reach-1-4-million.html\" target=\"_blank\" rel=\"noopener noreferrer\">Number of tax filers reaches 1.4 million<\/a><\/p>\n<p>Meanwhile, a spokesperson for the Federal Board of Revenue (FBR) said that the government made the laws referenced to encourage commercial activity through proper banking channels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government has made no changes to cash limits or tax rates on withdrawal from bank accounts, a news source quoted Minister of State for Revenue Hammad Azhar as saying. Read:\u00a0No withholding tax on filers\u2019 bank transactions Several sections of the media claimed on Wednesday that a small percentage (0.6%) would be deducted as tax from financial transactions exceeding PKR 25,000 for non-filers. Refuting the reports, the minister clarified that the only change made through the Second\u00a0Finance Supplementary Act 2019 is concerned with taking out tax filers from the scope of the relevant law. He added that withholding provisions are applicable to non-filers. Read:\u00a0Number of tax filers reaches 1.4 million Meanwhile, a spokesperson for the Federal Board of Revenue (FBR) said that the government made the laws referenced to encourage commercial activity through proper banking channels.<\/p>\n","protected":false},"author":67,"featured_media":50865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[11112],"persona":[],"class_list":["post-50864","post","type-post","status-publish","format-standard","has-post-thumbnail","tag-no-changes-made-to-cash-limits-for-banking-transactions"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>No changes made to tax rates for banking transactions, minister clarifies - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The federal government has made no changes to cash limits or tax rates on withdrawal from bank accounts, a news source quoted Minister of State\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/no-changes-made-to-tax-rates-for-banking-transactions-minister-clarifies.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No changes made to tax rates for banking transactions, minister clarifies - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The federal government has made no changes to cash limits or tax rates on withdrawal from bank accounts, a news source quoted Minister of State\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/no-changes-made-to-tax-rates-for-banking-transactions-minister-clarifies.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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