KARACHI: Pakistan is making substantial progress in developing its financial sector on the back of regulatory improvements and other reforms, according to the Economic Survey 2020/21 released on.
Pakistan is making substantial progress in developing its financial sector, as revealed by the Economic Survey 2020-21. This sector is being developed on
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February 15, 2021
ISLAMABAD: President Dr Arif Alvi has promulgated Tax Laws Amendments Ordinance 2021 to facilitate Roshan Digital Accounts for Non Resident Pakistanis, extending 4 percent Super Tax on banks beyond tax year 2021 for indefinite period, imposed Withholding Tax from Rs50,000 to Rs200,000 on different engine capacity on persons who sell locally manufactured cars within 90 days of delivery, offered tax exemption for electric vehicles and locally manufactured mobile devices.
The government claims that this ordinance was promulgated to facilitate businesses. It is not yet known about the revenue impact of these taxation measures but certain moves such as imposition of withholding tax and extending 4 percent Super Tax on banking sector would fetch revenues. However, facilitation measures would result in incurring tax losses. So tax experts believed that there is more incentives involved in it
The government has promulgated Tax Laws Amendment Ordinance 2021 so as to introduce the following major measures: To facilitate non-resident Pakistanis to
Naya Pakistan Certificates Bring Investments at Your Fingertips
The State Bank of Pakistan and the Government of Pakistan launched the Roshan Digital Account in collaboration with eight of the leading banks of Pakistan including Bank Alfalah.
This revolutionary product allows millions of Pakistanis across the world to instantly open an account through a completely digitized process and gain access to a plethora of services.
In addition to utility bill payments and e-commerce transactions, the Roshan Digital Account also provides lucrative investment opportunities in the Government of Pakistan’s latest offering, the Naya Pakistan Certificates.
The Government of Pakistan has collaborated with the State Bank of Pakistan to develop the Naya Pakistan Certificates, which are high yielding sovereign investment certificates for Foreign Currency Value Account (FCVA) holders, and Pakistani Rupee Value Account (NRVA) holders.