Budget FY 2022-23: Government increased tax rate to 42% for investment in government securities by Banks

Islamabad June 10 2022: Banking sector is earning substantial amount of interest on government securities.

In order to normalize substantial increase in earning, government has imposed 3% of Wind Fall tax on banking sector, now the tax rate on government securities for bank has been increased to 42% from 39% a year earlier, which includes super tax as well.