Govt to ‘increase’ tax on cash withdrawal in upcoming budget
The federal government plans to increase the advance tax on cash withdrawals for non-filers from 0.6% to 0.9% in the upcoming budget. This move could generate over Rs. 15 billion in annual revenue. Additionally, the government may raise the withholding tax on vehicles over 850cc and launch a crackdown on individuals not registered under the Tajir Dost Scheme. IMF has also requested electricity price hikes to tackle the power sector's circular debt.