Finance Minister Muhammad Aurangzeb presented the Federal Budget in the Parliament House today for the fiscal year 2025-26. The total federal budget outlay is Rs 17.6 trillion.
Key Features:
- Tax on Dividend remained unchanged at 15 percent
- FED on the allotment or transfer of commercial and residential plots is proposed to be abolished (previously 3 percent-7 percent)
- Defense expense set at Rs. 2.5 trillion
- Current expenditure set at Rs. 16.3 trillion
- Non-tax revenue set at Rs. 5.1 trillion
- FBR taxes set at Rs. 14.1 trillion, 19 percent YoY
- Budget outlay set at Rs. 17.6 trillion, +2 percent YoY
- Online retailers to collect 18% sales tax from sellers
- New tax credit scheme for houses up to 10 marlas
- The government withdraws tax exemptions on higher pensions
- The government sets an expiry date on the duration of spouses of deceased employees
- A massive tax is imposed on online shopping and cash-on-delivery
- The government will now seize items with no barcodes or tax stamps
- A new 18 percent sales tax imposed on solar panel imports
- Advance tax on the purchase of immovable property by filers reduced
- Advance tax on cash withdrawals increased for non-filers
- Government slaps Rs. 500,000 fine, 3-year prison sentence for using wrong CNIC numbers and NTN.
Source: ProPakistani
