ISLAMABAD: The Finance Bill 2025-26 approved by the parliament has added list of over 50 tax exemptions, including to pension of a former president and his widow, Karandaaz Pakistan, Army Welfare Trust and others.
The Finance Bill 2025-26 will be converted into an Act with the assent of the President of Pakistan, Asif Ali Zardari, on Monday (today). Earlier, the FBR had placed a regulatory framework with the provision of tax credits to Charitable Organisations, Non Profit Organisations (NPOs), but now facilitated them more by granting tax exemptions.
The Finance Bill 2025-26 approved by parliament has added to the list of those organisations which enjoyed tax exemptions.
It included tax exemption on pension of a former President of Pakistan and his widow, State Bank of Pakistan and State Bank of Pakistan Banking Services Corporation, Federal Board of Revenue Foundation, Pakistan Council of Scientific and Industrial Research, Pakistan Water and Power Development Authority established under the Pakistan Water and Power Development Authority Act, 1958 (WP Act XXXI of 1958). “Pakistan Agricultural Research Council, corporatised entities of Pakistan Water and Power Development Authority from the date of their creation up to the date of completion of the process of corporatisation i.e. till the tariff is notified, Prime Minister’s Special Fund for victims of terrorism, Chief Minister’s (Punjab) Relief Fund for Internally Displaced Persons (IDPs) of NWFP, Nation