Finance Bill 2025: Continuation of oppressive taxes

Senate session commences to discuss Finance Bill 2025

The session of the Senate, chaired by Chairman Senate Syed Yousaf Raza Gillani, began on Thursday at 11:35 a.m. at the Parliament House. Various committee reports are being presented in the House. The House and continue the ongoing debate on the Finance Bill, 2025. The discussion stems from a motion moved by Minister for Finance and Revenue Senator Muhammad Aurangzeb on June 10, seeking the Senate’s recommendations on the Finance Bill, including…

Finance Bill 2025: Continuation of oppressive taxes

Dr. Ikramul Haq “…regressive taxation, one of the great ironies of Pakistan’s tax system, treating exporters more like easy tax targets than growth drivers. The FY2025 budget pushed exporters into the normal tax regime, imposing a 1.25% advance minimum turnover tax adjustable against a 29% income tax, alongside a super tax of up to 10%. With that, exporters also face a 1.25% advance tax on export proceeds and a 0.25% export development surcharge…