The Senate on Thursday approved the recommendations on the Finance Bill 2026, containing the annual budget statement. These recommendations were presented in the Senate by Chairman of the Standing Committee on Finance and Revenue, Senator Saleem Mandviwalla in form of a report. Total 123 recommendations have been made for National Assembly for consideration. The upper […]
income tax
FBR says 9,000 Pakistanis hold billions in deposits but pay no income tax
ISLAMABAD: Federal Board of Revenue (FBR) Chairman Rashid Langrial has revealed that around 9,000 individuals in Pakistan collectively hold bank deposits worth Rs750 billion despite paying no income tax, highlighting significant gaps in the country’s tax system. The disclosure was made during a meeting of the National Assembly Standing Committee on Finance, chaired by Syed […]
Salient feature of income tax measures
RELIEF MEASURES Reduction in tax rates for salaried individuals: Income tax rates for salaried taxpayers have been reduced through restructuring of tax slabs. Additional intermediate slabs have been introduced and the threshold for the maximum tax rate of 35% has been increased from Rs. 4.1 million to Rs. 7 million. Abolition of tax on deemed […]
Major tax relief expected for salaried class in budget
The government is considering a tax relief package worth up to Rs50 billion for salaried individuals in the upcoming federal budget, aiming to ease financial pressure on employees across various income groups. Policymakers are reviewing several proposals that include lower tax rates, revised income thresholds, and a broader tax structure designed to provide greater relief […]
Jamaat-e-Islami chief seeks tax relief for salaried class
Jamaat-e-Islami Emir Hafiz Naeemur Rehman has called on the government to abolish income tax on monthly salaries up to Rs125,000 and provide substantial relief to the country’s salaried middle class in the upcoming federal budget. Read More: JI chief says sit-in achieved its targets In a statement shared on social media, Hafiz Naeem said salaried […]
FPCCI proposes tax relief for salaried class
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed tax relief measures for salaried individuals in its budget recommendations for fiscal year 2026-27, urging the government to reduce the income tax burden on fixed-income earners. Read More: Govt to leverage expertise for development: Haroon Akhtar According to the proposals submitted to the […]
Salaried class tops tax contributions in first seven months of FY26
ISLAMABAD – Pakistan’s salaried class has once again emerged as the single largest contributor to income tax, surpassing exporters, retailers, and property buyers and sellers combined, according to Federal Board of Revenue (FBR) data cited by The News. Read More: Government plans relief for salaried class, industries next budget In the July–January period of the current […]
FBR tightens action against tax evasion in private healthcare
The Federal Board of Revenue (FBR) has stepped up its enforcement drive against tax evasion in the private healthcare sector by deploying Inland Revenue Service (IRS) officers directly at the premises of commercial hospitals and clinics across the country. Read More: FBR notifies tax exemption for 61 items used in Covid-19 vaccine Senior tax officials said the move […]
FBR misses target by Rs270 billion in first four months
ISLAMABAD – The Federal Board of Revenue (FBR) faced a Rs270 billion revenue shortfall from July to October 2025. The agency collected less than its set target for the first four months of the financial year. The gap highlights ongoing challenges in tax compliance and collection. Sources said FBR collected Rs3,840 billion during this period, […]
FBR faces Rs270 billion shortfall in tax collection
ISLAMABAD: The Federal Board of Revenue (FBR) has reported a tax collection shortfall of Rs270 billion during the first four months of the ongoing fiscal year, from July to October 2025, highlighting continued fiscal challenges for the government. According to official data, the FBR collected Rs3.84 trillion in taxes during this period, against the target […]