New Tax on ATM Cash Withdrawals in Pakistan

New Tax on ATM Cash Withdrawals in Pakistan

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New Tax on ATM Cash Withdrawals for Non-Filers in Pakistan

Islamabad: The government has introduced a new tax on cash withdrawals from ATMs across Pakistan, targeting individuals who are not listed as active taxpayers.

Under the new rule, non-filersβ€”those whose names do not appear in the Active Taxpayers List (ATL)β€”will be subject to a 0.8% tax on daily cash withdrawals exceeding Rs 50,000.

For example, if a non-filer withdraws Rs 60,000 in a single day, Rs 80 will automatically be deducted from their account as tax.

This new levy applies only to ATM cash withdrawals made by non-filers. Transactions such as bank deposits, cheque withdrawals, and online transfers remain exempt from this tax.

In contrast, filersβ€”individuals registered in the ATLβ€”will not be affected by this measure. Their ATM withdrawals will continue without any additional tax deduction.

It is important to note that bank service charges for ATM transactions remain separate from this new tax and will continue to apply as usual.

New Tax on ATM Cash Withdrawals  in Pakistan

New Tax on ATM Cash Withdrawals in Pakistan

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