pakistan
Pakistan imposes 5% withholding tax on social media earnings
Key takeaways
- Add ARY News on Google AAResize ISLAMABAD: The government of Pakistan has imposed a 5 percent withholding tax on income earned by social media influencers, according to the Finance Bill for the upcoming fiscal year.
- As per the bill, the tax will apply to earnings generated through social media platforms, including You Tube, Facebook, Tik Tok, and Instagram.
- Under the new policy, banks will be responsible for deducting the withholding tax at the time of crediting payments into influencers’ accounts.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize ISLAMABAD: The government of Pakistan has imposed a 5 percent withholding tax on income earned by social media influencers, according to the Finance Bill for the upcoming fiscal year.
As per the bill, the tax will apply to earnings generated through social media platforms, including You Tube, Facebook, Tik Tok, and Instagram.
Under the new policy, banks will be responsible for deducting the withholding tax at the time of crediting payments into influencers’ accounts.
Article preview — originally published by ARY News. Full story at the source.
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