Do Pakistani Banks Charge Withholding Tax on Withdrawals from Your Foreign Currency Accounts?

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#1

Do Pakistani Banks Charge Withholding Tax on Withdrawals from Your Foreign Currency Accounts?


#2

As of today, Pakistani Banks do not charge withholding tax on withdrawals from your foreign currency accounts. As long the amount is withdrawn in the form of cash then no tax is charged on the filer or on the non-filer foreign currency account holder. While on the other hand, if the mode of payment is online transaction then filers are exempted from the withholding tax but for non-filers they are being charged with 0.4% withholding tax rate on online transactions.

Hope this helps.

Team Mawazna