{"id":76915,"date":"2025-06-10T10:44:41","date_gmt":"2025-06-10T05:44:41","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=76915"},"modified":"2025-06-10T11:33:47","modified_gmt":"2025-06-10T06:33:47","slug":"budget-2025-2026-taxes-on-withdrawals-for-non-filers","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/budget-2025-2026-taxes-on-withdrawals-for-non-filers\/","title":{"rendered":"Budget 2025-2026: Taxes on withdrawals for non-filers"},"content":{"rendered":"<p style=\"text-align: left;\">ISLAMABAD: The <a href=\"https:\/\/dailyausaf.com\/en\/weather\/islamabad-weather-isolated-thundershowers-gusty-winds-expected-in-federal-capital\/\">federal government<\/a> is proposing a range of broad tax reforms in the upcoming <a href=\"https:\/\/dailyausaf.com\/en\/business\/expected-salary-pension-increase-of-govt-employees-in-budget-2025-26\/\">FY2025-26<\/a> budget, with a particular emphasis on increasing the tax burden on bank savings and gasoline-powered automobiles.<\/p>\n<p>According to officials acquainted with the situation, the government is anticipated to propose a higher withholding tax on cash withdrawals made by non-filers.<\/p>\n<p>The current rate of 0.6% could be raised to 1.2%, with an extra fee likely to apply on daily withdrawals exceeding Rs50,000.<\/p>\n<p>According to sources, the move is intended to broaden the revenue base while discouraging unauthorized cash transactions. Taxation on profit-generating vehicles, such as bank deposits and savings plans, is also being reviewed.<\/p>\n<p>A higher tax rate on capital gains and earnings is being proposed to bolster government revenue, which is nonetheless under strain due to a slowing economy and IMF commitments.<\/p>\n<p>In addition, an 18 percent general sales tax (GST) is proposed for e-commerce transactions, up from the present lower slab, bringing digital platforms into the conventional sales tax regime for the first time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The federal government is proposing a range of broad tax reforms in the upcoming FY2025-26 budget, with a particular emphasis on increasing the tax burden on bank savings and gasoline-powered automobiles. According to officials acquainted with the situation, the government is anticipated to propose a higher withholding tax on cash withdrawals made by non-filers. [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":76895,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[29361,29362],"class_list":["post-76915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-budget-2025-2026","tag-non-filer"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/76915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=76915"}],"version-history":[{"count":2,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/76915\/revisions"}],"predecessor-version":[{"id":76924,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/76915\/revisions\/76924"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/76895"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=76915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=76915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=76915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}