The government will increase the profit tax for non-filers.

 The federal government of Pakistan is likely to increase taxes on non-filers on profits from bank accounts and deposits.

Sources told ProstartupPakistani that in recent meetings, the IMF has instructed the Pakistani side to increase the withholding tax on profits on loans of non-filers.

At present, the government deducts a 30 percent withholding tax from the profits on the loans of non-filers.

It is likely that the government will further increase this withholding tax to increase the cost of non-compliance.

Sources also said that the government has decided to increase the tax on dividend income from mutual funds to 5 per cent, while in cases where the mutual fund earns 50 per cent or from profits on loans, The tax rate on capital gains from funds will be the same. It will probably increase to 10 percent.

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