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Federal Board of Revenue (FBR) has announced sweeping tax reforms in the Budget 2025–26, focusing on salaried individuals, property income, and digital transactions. Surcharge for salaried persons has been reduced to 9%, while those earning up to Rs. 3.2 million receive minor relief. A 25% tax rebate for teachers and researchers continues until 2025. Pensioners under 70 will face a 5% tax on annual pension income above Rs. 10 million.
Key changes include a 4% minimum rent rule on commercial properties, and restrictions on adjusting business losses against property income. Cash payments over Rs. 200,000 per invoice will face partial disallowance. Digital commerce faces stricter oversight with a 5% levy on foreign platforms and 0.25%–2% tax on domestic transactions. NTN is now mandatory for major purchases.
FBR gains new powers to seal properties, freeze accounts, and penalize fake invoices. These reforms aim to broaden the tax base and enhance compliance.
