ICAP Archives - Page 2 of 6

Chartered Accountants Alert: ICAP–ICAEW Agreement Opens Global Recognition

December 22, 2025December 22, 2025Faisal Shahnawaz

In a major development for Pakistan’s accounting and finance sector, the Institute of Chartered Accountants of Pakistan (ICAP) has signed a landmark Recognition Agreement with the Institute of Chartered Accountants in England and Wales (ICAEW).

ICAP loses competition appeal over price-fixing ruling

July 10, 2025July 10, 2025Faisal Shahnawaz

Islamabad, July 10, 2025 – In a significant development, the Competition Appellate Tribunal (CAT) has rejected the appeal filed by the Institute of Chartered Accountants of Pakistan (ICAP), upholding a previous decision by the Competition Commission of Pakistan (CCP) that penalized the institute for alleged price-fixing practices.

ICAP calls for abolition of alternative corporate tax in FY26 Budget

June 8, 2025June 8, 2025Shahnawaz Akhter

Karachi, June 8, 2025 – The Institute of Chartered Accountants of Pakistan (ICAP) has strongly recommended the abolition of the alternative corporate tax (ACT) in its formal proposals for the upcoming federal budget 2025-26.

New framework proposed to tax digital platforms in Pakistan

June 4, 2025June 4, 2025Shahnawaz Akhter

Islamabad, June 4, 2025 – A new framework has been put forward to bring digital platforms in Pakistan under the tax net. This proposal, presented by the Institute of Chartered Accountants of Pakistan (ICAP), is part of the country’s upcoming 2025–26 budget suggestions.

FBR advised to honor loyal taxpayers for expanding tax net

June 3, 2025June 3, 2025Shahnawaz Akhter

Karachi, June 3, 2025 – In a powerful and game-changing proposal ahead of the federal budget 2025-26, the Institute of Chartered Accountants of Pakistan (ICAP) has sounded the alarm: If the FBR wants more taxpayers, it must start by honoring the ones it already has.

ICAP recommends WHT on royalty payments to local recipients

June 1, 2025June 1, 2025Shahnawaz Akhter

Karachi, June 1, 2025 – The Institute of Chartered Accountants of Pakistan (ICAP) has proposed the introduction of a structured withholding tax (WHT) mechanism on royalty payments made to resident individuals and entities.

ICAP suggests banking transaction monitoring for tax broadening

May 31, 2025May 31, 2025Shahnawaz Akhter

Karachi, May 31, 2025 – The Institute of Chartered Accountants of Pakistan (ICAP) has urged the Federal Board of Revenue (FBR) to intensify monitoring of high-value banking transactions as a core strategy for the broadening of the tax base.

ICAP demands ironclad customs to defend CPEC integrity

May 29, 2025May 29, 2025Shahnawaz Akhter

Karachi, May 29, 2025 — The Institute of Chartered Accountants of Pakistan (ICAP) has presented a comprehensive set of proposals for the upcoming federal budget 2025–26 aimed at eliminating smuggling and illegal trade along the China-Pakistan Economic Corridor (CPEC).

ICAP calls for automated tax refund credit system in FY26 budget

May 28, 2025May 28, 2025Shahnawaz Akhter

Karachi, May 28, 2025 – In a powerful push for fiscal reform, the Institute of Chartered Accountants of Pakistan (ICAP) has proposed the introduction of a fully automated tax refund credit system in the federal budget for 2025-26.

Experts explode over salary tax: gross deductions outrage

May 27, 2025May 27, 2025Shahnawaz Akhter

Karachi, May 27, 2025 – A storm is brewing in the tax landscape as experts sound the alarm over what they describe as an unjust policy of taxing salary on the gross amount—not the net take-home pay—causing financial strain across Pakistan’s salaried class.

Tag: ICAP