Withholding Tax Rates in Pakistan
income tax ordinance Withholding Tax Rates on Bank Transaction are
different for filers and non filers.
In Pakistan all Bank deduct
Filers: deduct 0.3% withholding tax amount
Non-Filer: 0.6% tax is deducted from
Non-Filer bank customers.
Withholding Taxable Amount
Government of Pakistan has made a rule on
which withholding tax is applicable. If a person withdraw amount more than
Rs. 50000 then he will have to pay withholding tax as per mentioned above
rates. This amount limit (Fifty Thousand) could be reached in a single
bank transaction or in different transaction in a day.
Withholding Tax Amount
Here are some calculations of withholding
tax deducted on 50000 and 100000 amounts. So that you can have an idea
about total tax deduction.
Withdrawl Amount: 50000
Withholding Tax (Filer): 150
Withholding Tax (Non-Filer): 300
Withdrawl Amount: 100000
Withholding Tax (Filer): 300
Withholding Tax (Non-Filer): 600
This tax is deducted on all types of
instruments including DD, Pay Order, Online Transfer and others. Weather
customer is using any bank i.e (HBL, MCB, UBL, ABL etc), or Money exchange
dealers etc, withholding tax will be deducted according to Tax rules of
Withholding rates on imports, profit on
debt, exports, leasing or vehicles, brokerage, purchase of shares are