ISLAMABAD: federal government decided to impose taxes on sending money transfers abroad via credit, debit and prepaid cards ARY News reports. on Friday.
decision was announced Minister of Finance Miftah Ismail during the presentation of the budget for fiscal year 2022–23 (Fiscal Year 23) in National Assembly.
More: 9.5 trillion rupees. budget presented for FY 2022-23
Miftah Ismail said that government decided to levy an advance withholding tax on those who send money transfers abroad via credit, debit and prepayment cards.
It has also it has been suggested that the registrars who Send money abroad by credit, debit or prepayment cards have to pay 1 percent withholding tax, while for similar transaction, non-applicants will pay 2 percent tax, he said.
However, income tax on credit, debit and prepayment cards may be adjusted then onfinance minister added.
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