Dawn
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05:02 Jun 14, 2025
• Tax relief for low-income salaried individuals reversed by cabinet, says FBR chief • PIA re-enters privatisation process, confirms finance minister • Tax on Google, YouTube services increased from 10pc to 15pc • 4pc tax on commercial rental income deferred ISLAMABAD: The National Assembly’s Standing Committee on Finance and Revenue has approved an increase in the minimum threshold for daily cash withdrawals, raising it from Rs50,000 to Rs75,000 while rejected a separate proposal to impose an additional 2 per cent sales tax on online purchases, signalling resistance to new digital levies amid growing e-commerce activity. Chaired by MNA Naveed Qamar, the committee also gave its nod to increasing the withholding tax rate on cash withdrawals — from 0.6pc to 0.8pc. However, the committee struck down a parallel proposal to raise the tax from 15pc to 20pc on loan profits earned by banks. Among other decisions, the committee endorsed the government’s proposal to increase the tax on services provided by digital pla...