Pakistan targets generating $90 million annually from crypto taxes

An executive with a Pakistani cryptocurrency exchange has said that the country can generate at least $90 million in tax revenues if authorities levy a 15% tax on cryptocurrency transactions.

The executive, Zeeshan Ahmed, the country general manager at Rain Financial Inc, claimed this would be possible if Pakistan adopts what one report calls “hard and fast regulations.”

Ahmed claimed that Pakistan’s neighbor India and the United States are already getting billions of dollars in tax revenues.

Ahmed’s sentiments were echoed by his fellow executive, Aatiqa Lateef, the crypto exchange’s director of public policy.

Speaking at the same event where attendees discussed the role of crypto assets in an economy, Lateef suggested his company is playing its part in helping to change regulators’ perception of cryptocurrencies.

Lateef, in the meantime, concedes that it could take between 12 and 18 months before the Pakistan government makes its decision.