Budget Archives - Page 35 of 152

Banks advocate revisions in tax recovery from customer accounts

May 21, 2025May 21, 2025Shahnawaz Akhter

Karachi, May 21, 2025 – Banks in Pakistan have raised significant concerns regarding the existing framework for tax recovery enforced by the Federal Board of Revenue (FBR) on account holders.

Tax credits likely to be restored in FY26 budget to boost investment

May 21, 2025May 21, 2025Mrs. Anjum Shahnawaz

ISLAMABAD, May 21, 2025 – The federal government is working on several proposals to encourage investment and strengthen the corporate sector in the upcoming budget for fiscal year 2025-26. Among the key recommendations under serious consideration is the restoration of tax credits, which were previously available for investments in equity mutual funds and initial public […]

FY26 Budget: Govt plans to expand 25% sales tax on luxury items

May 21, 2025May 21, 2025Mrs. Anjum Shahnawaz

ISLAMABAD, May 21, 2025 – In the upcoming federal budget for 2025-26, the government is preparing to expand the list of luxury items that will be subject to a higher sales tax rate of 25 percent. This move is aimed at generating more revenue and offsetting the expected losses from reduced customs and regulatory duties.

P@SHA urges tax exemption on debit card transactions in budget

May 20, 2025May 20, 2025Shahnawaz Akhter

Karachi, May 20, 2025 — The Pakistan Software Houses Association (P@SHA) has strongly recommended that the government exempt debit card transactions from withholding tax in the upcoming 2025-26 federal budget.

World Bank-funded experts reviewing FY26 budget proposals

May 19, 2025May 19, 2025Shahnawaz Akhter

Pakistan is receiving support from top tax experts, financed by the World Bank, to review and evaluate proposals for the upcoming fiscal year 2025-26 budget.

OICCI wants lower taxes on Pakistani-made vehicles in budget

May 19, 2025May 19, 2025Faisal Shahnawaz

Karachi, May 19, 2025 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended the government take urgent steps to rationalize the Federal Excise Duty (FED) and sales tax imposed on locally manufactured vehicles in the upcoming 2025-26 federal budget.