Pakistani Parliamentary Committee Rejects FBR's Bank Data Access Proposal, Approves Tax Measures
• Lawmakers fear access to such data could be misused • Body okays proposed tax rates for salaried class, calls for more relief • Finance minister says no room for more concessions this year • Panel rejects stricter penalties for filers, non-filers in certain cases • Luxury vehicles above 3,000cc to face 41pc levy • IT, related services to remain taxed at 4pc; professionals, independent software developers to face 15pc rate ISLAMABAD: A parliamentary committee on Friday ques
A parliamentary committee in Pakistan has rejected a proposal by the Federal Board of Revenue (FBR) to access taxpayers' bank account data, citing fears of misuse. The National Assembly Standing Committee on Finance and Revenue, chaired by Naveed Qamar, approved proposed tax rates for the salaried class but called for additional relief. The Finance Minister indicated no room for further concessions this year. The committee also rejected stricter penalties for tax filers and non-filers in specific cases. However, it approved a 41% levy on luxury vehicles exceeding 3,000cc. Tax rates for IT and related services will remain at 4%, while professionals and independent software developers will face a 15% rate. The committee finalized its recommendations for the Finance Bill, 2026, which will be presented to the National Assembly.
The parliamentary committee's rejection of the FBR's bank data access proposal and its approval of specific tax measures indicate a balancing act between revenue generation and taxpayer privacy concerns, shaping Pakistan's fiscal policy for 2026.
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