Pakistan banks urge FBR to reform tax recovery from customer accounts. They propose standardized notices, customer notification, and a centralized unit to streamline processes and enhance transparency.
Pakistan to expand its 25% sales tax list in Budget 2025-26, targeting more luxury items like home appliances, tiles, and high-end watches. This aims to boost revenue and offset customs duty cuts. The move will amend SRO 297(I)/2023 or introduce a new Sales Tax Act schedule.
Pakistan’s FY26 budget may restore tax credits for IPO & mutual fund investments to boost capital markets & corporate growth. Proposals also eye PE/VC income tax exemption & holding company incentives.
Pakistan proposes major tax hikes on sugary drinks (40%) and new 20% FED on ultra-processed foods to combat rising NCDs like diabetes.
P@SHA urges Pakistan to exempt IT exporters’ debit card transactions from withholding tax in the 2025-26 budget, aiming to end double taxation and boost forex.
Pakistan plans to ban non-filers from buying property & cars in the 2025-26 budget. FBR & IMF push for tax compliance & tougher rules for non-filers.
IMF projects Pakistan’s FY25 tax revenue at 12.6% of GDP. Plans include recovering Rs 367bn from litigation & boosting compliance in retail & real estate.
IMF demands Pakistan raise an additional Rs. 430 billion in taxes for the 2025-26 budget, setting a Rs. 14.3 trillion target.
Businessmen and experts criticize Pakistan’s new Tax Ordinance 2025 over lack of consultation and potential harm to the investment climate.
KTBA submits Budget 2025-26 tax proposals to FBR. Focuses on taxpayer-friendly reforms, improving appellate system, IRIS, and adjusting tax rates.