Minister of State for Finance and Revenue Bilal Azhar Kayani on Friday said that around 3.5 million shopkeepers will be included in the tax net during fiscal year 2026-27. Participating in the National Assembly debate on the federal budget 2026-27, he said the government’s economic policy aims to strengthen the national economy and ensure inclusive […]
Tax
NA panel approves 5% withholding tax on YouTube, social media earnings
The National Assembly’s Standing Committee on Finance on Thursday approved a series of recommendations for the proposed Finance Bill 2026-27, including the imposition of a 5% withholding income tax earned through social media platforms. Other recommendations included the abolition of a 1% advance tax on exporters and changes to the taxation of inherited properties. The […]
Bilawal vows to defend rights of tribal people after Centre imposes tax
Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari on Tuesday tasked Khyber Pakhtunkhwa (KP) Governor Faisal Karim Kundi with addressing the prevailing wheat crisis in the province. The directive came during a meeting with PPP Khyber Pakhtunkhwa President Muhammad Ali Shah Bacha where in Kundi was also present. PPP Central Secretary Information Nadeem Afzal Chan […]
Budget aimed at public relief, reduction in tax burden, says PM
Prime Minister Shehbaz Sharif Friday said the government presented the budget of relief and public welfare, reduced the burden on the salaried class and took steps for increasing exports, promoting industries and agricultural growth, investment and economic development. In a statement regarding the federal budget, he said, “I am immensely grateful to Allah Almighty, by […]
PM directs pilot launch of automated tax collection system in Islamabad
Prime Minister Shehbaz Sharif on Thursday directed the launch of a pilot project for a proposed automated income tax collection system in Islamabad, the Prime Minister’s Office (PMO) said. In a statement, the PMO said that Prime Minister Shehbaz chaired a review meeting on ongoing reforms in the Federal Board of Revenue (FBR), attended by […]
Ministry urges tax relief extension for telecom sector
The Ministry of Information Technology and Telecommunication (MoITT) has proposed a comprehensive package of fiscal incentives for the telecom sector, including exemption from withholding tax, reduction in import duties on telecom equipment and lower taxes on mobile handset components, aimed at attracting fresh investment, creating employment opportunities and improving digital connectivity across the country. According […]
Royalty on finished product akin to tax: FCC
The Federal Constitutional Court of Pakistan on Wednesday observed that the government could levy royalty only on minerals and that imposing royalty on a finished product appeared, prima facie, to be equivalent to a tax. A three-member bench headed by Justice Hassan Azhar Rizvi heard a case relating to the imposition of royalty on cement […]
APPSMA seeks tax relief for low-fee private schools
The All Pakistan Private Schools Management Association (APPSMA) has urged the government to announce special relief measures for low-fee private educational institutions in the budget 2026-27, including tax exemptions and financial support for infrastructure development. In a joint statement, APPSMA leaders, including Central President Kashif Adeeb Jawadani, Secretary General Amjad Ali Khan, North Punjab and […]
Govt rejects reports of $3bn tax shortfall, says $40 billion collected
Adviser to the Finance Minister Khurram Schehzad rejected local media reports of the Federal Bureau of Revenue (FBR) missing its annual tax target by a massive margin of Rs864 billion [$3.08 billion], clarifying that the bureau had achieved over 99 percent of its tax collection target over a period spanning 11 months. Local media organizations […]
Govt considers substantial tax hike on solar panels in budget
Setting up solar power systems is about to become considerably more expensive for consumers in Pakistan, as the government considers a substantial tax hike on solar panels in the upcoming federal budget for the fiscal year 2026-27. According to sources close to the development, the International Monetary Fund (IMF) has strongly opposed tax exemptions historically […]