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Ali1234
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Ali1234Researcher
In: Pakistan

Pakistan How much tax will be deducted now on withdrawing more than 50,000 from the bank?

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Pakistan How much tax will be deducted now on withdrawing more than 50,000 from the bank?
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    3 Answers

    1. Ali1234 Researcher
      2025-08-08T12:35:57-07:00Added an answer on August 8, 2025 at 12:35 pm

      In Pakistan, when you withdraw more than PKRโ€ฏ50,000 in cash in a single day, the following taxes apply depending on your tax-filer status: For Nonโ€‘Filers (not on the Active Taxpayers List, ATL) Withholding tax (WHT): 0.8% of the total withdrawal amount per day. This rate was increased from 0.6% undeRead more

      In Pakistan, when you withdraw more than PKRโ€ฏ50,000 in cash in a single day, the following taxes apply depending on your tax-filer status:


      For Nonโ€‘Filers (not on the Active Taxpayers List, ATL)

      • Withholding tax (WHT): 0.8% of the total withdrawal amount per day. This rate was increased from 0.6% under the Finance Act 2025 and became effective from July 1, 2025.

      For Filers (ATL members)

      • Withholding tax (WHT): 0.3% on cash withdrawals exceeding PKRโ€ฏ50,000 in one day. This applies to both ATM and bankโ€‘counter withdrawals.

      Examples

      • If a nonโ€‘filer withdraws PKRโ€ฏ100,000:
        • Tax = 0.8% โ†’ PKRโ€ฏ800 deducted at source.
      • If a filer withdraws PKRโ€ฏ100,000:
        • Tax = 0.3% โ†’ PKRโ€ฏ300 deducted.

      โ€‹ Additional Insights

      • The tax applies on an aggregate daily basisโ€”it doesnโ€™t matter if the withdrawal is in one go or split across multiple transactions in the same day.
      • Reddit conversations also reflect this policy in practice:

        โ€œI withdrawal 53,000 in 3 different transactionsโ€ฆ 318 has been deductedโ€ฆ WHT on Cash Withdrawal.โ€

        That โ‰ˆ0.6% deduction aligns with the previous rate before July 2025.


      Summary Table

      Your Status Withdrawal Amount (PKR) WHT Rate (%) Approx. Tax Deduction (PKR)
      Filers (ATL) >โ€ฏ50,000 0.3% e.g. 100,000 โ†’ PKRโ€ฏ300
      Nonโ€‘Filers >โ€ฏ50,000 0.8% e.g. 100,000 โ†’ PKRโ€ฏ800

      ** Bottom line:**

      • Filers on the ATL benefit from significantly lower withholding tax on large withdrawals.
      • If youโ€™re not on the ATL, youโ€™ll face a higher 0.8% tax on any daily cash withdrawal above PKRโ€ฏ50,000.

      Would you like help registering as an active taxpayer or exploring alternative withdrawal methods to reduce taxes?

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    2. Ali1234 Researcher
      2025-08-08T12:37:02-07:00Added an answer on August 8, 2025 at 12:37 pm

      The Federal Board of Revenue (FBR) has issued rules for amendments to income tax for the new fiscal year.

      The Federal Board of Revenue (FBR) has issued rules for amendments to income tax for the new fiscal year.

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    3. Ali1234 Researcher
      2025-08-08T12:37:51-07:00Added an answer on August 8, 2025 at 12:37 pm

      The Federal Board of Revenue (FBR) has issued rules for amendments to income tax for the new fiscal year. ุง

      The Federal Board of Revenue (FBR) has issued rules for amendments to income tax for the new fiscal year.

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