Pakistan Financial Industry Officials Propose 15% Tax on Crypto -Breaking
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Officials from the Pakistani Financial Industry propose a 15% tax on crypto- On Tuesday, Pakistani officials from the financial sector released a statement regarding taxing cryptocurrency.
- Industry officials estimate that Pakistan could generate revenue of at least $90 Million annually if it charges a 15% tax for cryptocurrency trading.
- According to some estimates, it could take 12-18 months for the government to make a decision about the submitted proposal.
Officials from Pakistan’s financial industry released Tuesday a statement about the economic viability of crypto taxation in Pakistan.
Industry officials estimate that Pakistan could generate revenue of at least $90million per year if it charges a 15% tax for cryptocurrency trading. This figure is based on the previous year’s total crypto transactions in Pakistan, which totaled $20 billion. Six hundred million dollars of profit were made.
The Country General Manager for the crypto exchange platform, Rain Financial Inc., Zeeshan Ahmed, said in a recent interview with the press that “The US and India are colle …
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