ISLAMABAD: During the meeting of the National Assembly Standing Committee on Finance, FBR officials were briefed on new tax measures during the consideration of the Finance Bill 2025-26.
The meeting was informed that now the advance tax rate on cash withdrawal from banks for non-filers has been fixed at 0.8 percent. However, the committee has recommended that non-filers will get tax exemption on daily withdrawal of up to Rs 75,000, which was previously limited to Rs 50,000. The meeting also clarified that the government has accepted about two dozen conditions of the International Monetary Fund (IMF) to meet the tax targets.
The meeting also focused on the e-commerce sector, in which the FBR revealed that income tax is being imposed on those doing online business at different rates. 0.5 percent tax has been imposed on online sales of electronic and electrical products, while 2 percent tax will be imposed on online business of clothes. A 1% tax has been proposed for other types of online businesses. Registered online businesses will be required to pay income tax based on their income, while in case of order booking, the billing details will be treated as online returns.
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