- Financial industry officials in Pakistan released a statement on Tuesday regarding the profitability of taxing crypto.
- According to the industry officials, Pakistan can generate revenues worth at least $90 million per annum if they charge a 15 percent tax on the cryptocurrency trade.
- It is believed that it may take the government 12-18 months before they come to a decision regarding the proposal brought forward.
Financial industry officials in Pakistan released a statement on Tuesday regarding the profitability of taxing crypto in the nation.
According to the industry officials, Pakistan can generate revenues worth at least $90 million per annum if they charge a 15 percent tax on the cryptocurrency trade. This figure is based on the previous year’s total crypto transactions in Pakistan, which totaled $20 billion. Of this, $650 million of profit was earned.
The Country General Manager for the crypto exchange platform, Rain Financial Inc., Zeeshan Ahmed, said in a recent interview with the press that “The US and India are colle ...