Could 23, 2025 (MLN): ACCA (the Affiliation of Chartered Licensed Accountants) Pakistan has formally launched its complete Funds Proposal for the fiscal yr 2025–26, presenting a well-rounded, reform-oriented roadmap to strengthen Pakistan’s taxation system and promote sustainable financial development.

This proposal displays over a decade of engagement with Pakistan’s fiscal reform course of and is knowledgeable by in depth session with ACCA’s Members’ Community Panel (MNP), comprised of skilled finance professionals from main companies and industries throughout the nation, as per the press launch issued.

This yr’s doc additionally consists of insights from ACCA’s key Skilled Insights (PI) reviews, together with Tax as a Drive for Good, Public Belief in Tax, Expertise and Instruments of Tax Administration, and Enterprise Confidence Survey, offering a wealthy international context to the native challenges.

“ACCA’s tax tenets stress simplicity, certainty, efficiency, and fairness”, mentioned Assad Hameed Khan, Head of ACCA Pakistan.

“Our proposals reflect the voice of our members working across diverse sectors in Pakistan and are grounded in both international best practices and local realities”, he added.

“ACCA’s budget proposal recognises the urgent need for systemic reform and a vision for a self-reliant and prosperous economy”, mentioned Aucky Pratama, Government Director – Asia Pacific, ACCA.

“It sets out a clear, practical pathway for transforming Pakistan’s taxation system into one that not only raises revenue but actively enables economic opportunity and citizen trust”, he famous.

“This proposal is a reflection of the collective insight of our professional community in Pakistan”, Haroon A Jan”, Head of Member Engagement ACCA, added

“We’ve worked hard to ensure that the recommendations are practical, policy-relevant, and guided by ACCA’s global best practices, while staying grounded in the realities of Pakistan’s tax and economic landscape”, he famous.

One of many main reforms proposed is the Simplification of tax legal guidelines by way of the institution of an unbiased Tax Legislation Simplification Fee.

This fee would draw inspiration from worldwide fashions such because the UK’s Workplace of Tax Simplification and India’s Direct Tax Code initiative.

To boost Certainty, the proposal recommends the introduction of a 3–5 yr Tax Coverage Roadmap.

This roadmap is meant to enhance predictability inside the tax system, assist enterprise planning, and entice funding by offering a secure and forward-looking tax setting.

Within the curiosity of Openness and Transparency, ACCA suggests the event of a Taxpayer Engagement & Transparency Portal.

This portal could be modelled on the general public session mechanisms utilized by Canada’s CRA and the UK’s HMRC, permitting for larger public interplay and belief within the taxation course of.

The precept of Equity is addressed by way of proposals similar to harmonising tax charges for salaried and non-salaried people, guaranteeing equitable remedy for sportspersons and professionals, and introducing a 35% marginal tax price for earnings exceeding PKR 50 million.

To advertise financial improvement, the proposal focuses on Incentivisation by providing focused tax aid for IT and AI-based analysis and improvement, inexperienced economic system funding, and documented commerce, together with the restoration of Part 65A.

Beneath Digital Enablement, ACCA requires an growth of obligatory e-filing and integration of Level of Sale (POS) methods.

These measures are supported by profitable worldwide examples like Estonia’s e-Tax Board and India’s AI-driven tax audits.

The proposal additionally addresses the necessity for Dispute Decision Reform by suggesting the reinstatement of judicial neutrality.

This is able to be achieved by appointing tribunal members by way of the Federal Public Service Fee (FPSC).

To make sure Accountability, ACCA recommends the creation of an Unbiased Tax Oversight Physique, impressed by oversight establishments such because the TIGTA within the US and the Inspector-Normal of Taxation in Australia.

Strategic extracts from ACCA’s international Skilled Insights reviews are included into the proposal, linking Pakistan’s tax coverage reforms with international finest practices and thought management.

The doc additionally identifies the High 3 Roadmap Priorities, which embrace Tax Legislation Simplification, Coverage Certainty, and Actual Property Valuation Reform, outlining a structured path for pressing reforms.

Lastly, the proposal underscores the Skilled Credentials of ACCA’s Members’ Community Panel and options contributions from international tax consultants, reinforcing the proposal’s depth and credibility.

 “This document reflects our intent to contribute not just as technical advisors, but as partners in Pakistan’s economic development journey,” mentioned Rauf Ali Jan FCCA, Chairman of ACCA Pakistan’s MNP and Head of the Taxation Subcommittee.

ACCA reiterates its willingness to work alongside public establishments, companies, and civil society to assist a fiscally sustainable and investment-friendly setting.

The total proposal is offered on request and will likely be shared with key stakeholders and decision-makers within the coming weeks.

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Posted on: 2025-05-23T16:51:33+05:00