Tax Authorities In Pakistan Zero In At Bitcoin Traders
Tax authorities across the globe have set their sights on Bitcoin traders. The latest to join the set is the FBR (Federal Board of Revenue) in Pakistan.
While Asian countries like Japan, China and South Korea have been in the news for people taking a fancy to Bitcoin, adoption in Pakistan has been low key. The first Bitcoin exchange in Pakistan, Urdubit, was established in 2014. There is tremendous potential for Bitcoin in Pakistan, with the country receiving remittances of $20 bln every year. Pakistan also has a vibrant freelance economy, with estimated revenue of $1 bln. Wider adoption of Bitcoin can bring efficiencies in both remittances and payment for online freelancing.
This post has been ranked within the top 50 most undervalued posts in the first half of Jun 09. We estimate that this post is undervalued by $28.46 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jun 09 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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