03/07/2025
Under the Bill 2025‑26, the Government has enacted and significant reforms, noteably increasing ‑tax rates and associated surcharges for individuals and levied tax on pension income as well ,
Furthermore introduced 18% sales tax levy on e‑commerce transactions, with payment intermediaries—including banks and courier services by enforcing them to withhold a 2% sales‑tax charge on gross supplies by non‑filing vendors throughout the Pakistan.
The FB 2025-2026 further empowers the Inland Revenue, under amended Sections 14AC and 37A/37B of the Sales Tax Act and Income‑Tax Ordinance, to issue written directives to banking institutions to freeze or operations of accounts belonging to ‑registered or non‑filing taxpayers, subject to specified intervals and reinstatement upon compliance.
Moreover comissoner impowered to conduct inquiries for identifying of person/ Taxpayer who commiting Tax if the taxpayer found guilty then should be subject to arrest including company directors,
Briefing on Finance Budget 2025- 2026 shared for your kind of information and for sake to aware taxpayers regarding certain changes in income tax Rates and as well as change in sales tax rates.
