Islamabad (HRNW) — A significant development has emerged regarding the growing use of cryptocurrency in Pakistan, with the country being ranked as the third-largest cryptocurrency-using country in the world.
According to the report, there is a significant gap between the number of cryptocurrency users in Pakistan and the number of registered taxpayers. The situation has raised important questions regarding the inclusion of income generated from crypto assets in the tax system, expansion of the tax net, and documentation of the digital economy.
Meanwhile, a recommendation has also been made to reduce taxes imposed on mobile phones. The proposal aims to make mobile phones more affordable for ordinary citizens and promote access to digital services.
Human Rights Perspective
Access to the digital economy and financial technology is increasingly important for employment, entrepreneurship, financial inclusion, and economic opportunities. However, as cryptocurrency is a relatively new financial sector, consumer protection, transparency, fraud prevention, and appropriate regulatory oversight are also essential.
Similarly, reducing taxes on mobile phones could help improve access to digital services for low-income and marginalized communities.
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Disclaimer: This report has been prepared on the basis of available reported information. Figures relating to cryptocurrency users, global rankings, and taxation may vary depending on the source and reporting period.
