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Reading: Pakistan’s Budget 2025 to Feature Major Tax Relief, Withholding Tax Removal
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Sales Tax Fraud in Pakistan
PhotoNews Pakistan > Business > Pakistan’s Budget 2025 to Feature Major Tax Relief, Withholding Tax Removal
Business

Pakistan’s Budget 2025 to Feature Major Tax Relief, Withholding Tax Removal

Web Desk
By Web Desk Published May 11, 2025 2 Min Read
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Photo: Sky Marketing Pakistan
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Pakistan’s federal government is poised to unveil significant tax reforms in Budget 2025, including removing withholding tax on raw materials to support the industrial and construction sectors.

Prime Minister Shehbaz Sharif has directed officials to incorporate industry feedback and ensure targeted relief measures that enhance economic activity while maintaining financial stability as part of discussions with the International Monetary Fund (IMF).

The proposed elimination of withholding tax on raw materials aims to reduce tax refund volumes and lower business costs, making essential supplies more affordable. Additionally, the government is considering removing withholding tax on property dealings and scrapping federal excise duty on property sales, which could stimulate the real estate sector. These measures are designed to boost industrial growth and ease financial burdens on key industries.

Budget 2025 may remove withholding tax on raw materials and property, reducing costs for industry and real estate sectors.

The government is exploring a 2.5% reduction in income tax slabs for salaried individuals, offering relief to the middle class. The telecom sector advocates a withholding tax cut from 15% to 8% to promote digital adoption. These proposals align with broader tax relief initiatives, reflecting the government’s commitment to economic revitalisation.

Tax Amendments Ordinance 2025

On May 5, 2025, President Asif Ali Zardari promulgated the Tax Amendments Ordinance 2025, immediately strengthening tax enforcement.

The ordinance allows the Federal Board of Revenue (FBR) to freeze bank accounts without prior notice and collaborate with federal and provincial agencies to seize assets. It also mandates immediate tax payments following High Court or Supreme Court rulings, streamlining compliance.

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1 Comment
  • Charlie Thomas says:
    May 12, 2025 at 12:26 am

    How do the new export sector incentives compare to regional competitors like Bangladesh’s cash incentives?

    Reply

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