Pakistani authorities will collect taxes from traders and crypto companies

by in Cryptocurrency News

Pakistan

In January 2022, the Pakistani authorities were preparing to ban all types of cryptocurrency transactions.

The corresponding document was prepared to take into account the position of the Central Bank of the country, which demanded the introduction of fines for violating such a ban.

However, opponents of repressive measures also appeared in the government of Pakistan. The Ministry of Finance called for the regulation of the industry, as well as taxing it. Thus, the state will be able to get another source of budget replenishment.

This week, representatives of the financial department of Pakistan held talks with the crypto business and discussed options for interaction. The head of the Rain platform, Zeeshan Ahmed, was present at this meeting.

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He told reporters that the Pakistani government is ready to legalize the industry and impose taxes on income received from operations with digital assets.

As an example, a country can focus on India, where a 30% tax on crypto traders has already been introduced since April.

The head of the exchange supports the initiative of the Pakistani authorities. But he calls on the government and the Central Bank to sensibly regulate the industry. In the event of tightening control, the crypto business will be forced to move to other jurisdictions.