#BitcoinReserveDeadline | May 6, 2025
By @ahmadumer0083
Pakistan’s Crypto Boom: Still No Taxes, Says FTO
Cryptocurrency is rapidly gaining ground in Pakistan, but it's still operating in a tax-free zone. According to Federal Tax Ombudsman (FTO) Dr. Asif Mahmood Jah, the Federal Board of Revenue (FBR) has yet to establish clear rules or systems to manage digital currencies.
During a meeting with business leaders in Islamabad, an FTO official revealed that someone had raised concerns about the growing use of crypto—Pakistan now ranks 6th globally in adoption.
This individual even expressed a willingness to pay taxes on their crypto earnings, but the FBR reportedly had no mechanism in place to process such payments.
The FBR acknowledged that cryptocurrency is a complex and emerging field. They said an official stance would be released after consulting with other relevant bodies.
But the FTO criticized the delay, calling out the FBR for dragging its feet while the country’s crypto economy surges—estimated at $1.6 billion, with user numbers projected to hit 27 million in 2025.
He urged the FBR to engage with stakeholders and ensure crypto taxation is addressed in the upcoming national budget.
