Pakistan Financial Industry Officials Propose 15% Tax on Crypto

2022.05.18 18:21

Pakistan Financial Industry Officials Propose 15% Tax on Crypto

• Financial industry officials in Pakistan released a statement on Tuesday regarding the profitability of taxing crypto.
• According to the industry officials, Pakistan can generate revenues worth at least $90 million per annum if they charge a 15 percent tax on the cryptocurrency trade.
• It is believed that it may take the government 12-18 months before they come to a decision regarding the proposal brought forward.

Financial industry officials in Pakistan released a statement on Tuesday regarding the profitability of taxing crypto in the nation.

According to the industry officials, Pakistan can generate revenues worth at least $90 million per annum if they charge a 15 percent tax on the cryptocurrency trade. This figure is based on the previous year’s total crypto transactions in Pakistan, which totaled $20 billion. Of this, $650 million of profit was earned.

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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