By Our Correspondent
ISLAMABAD: – The Federal Government has introduced the Finance Bill 2025, proposing wide-ranging changes in tax policies, digital business regulation, fuel pricing, and customs procedures.
For property buyers in Islamabad, stamp duty has been revised to 1 per cent for tax filers and 2 per cent for non-filers, meaning those who regularly file their taxes will pay less when purchasing property.
Additionally, the previous cap on registration fees has been removed.
A new Carbon Levy has been introduced at Rs2.50 per liter on petrol, diesel, and furnace oil for the year 2025–26, with a plan to raise it to Rs5 per liter the following year.
This will likely result in a gradual increase in fuel prices.
To counter smuggling and tax evasion, the customs department will implement a cargo tracking system, and the use of digital transport documents called e-bilty will be mandatory for all goods movement.
Failure to comply can result in fines up to Rs1 million, confiscation of goods, and imprisonment.
In a significant move, the bill aims to bring e-commerce and online businesses firmly into the tax net.
Now, couriers and payment platforms must collect 2 per cent sales tax on all digitally ordered goods within Pakistan.
They must also submit monthly statements of all such transactions.
Failing to do so will result in penalties starting from Rs500,000 and increasing with each violation.
Marketplaces and couriers are prohibited from doing business with sellers who are not registered for tax purposes.
The government has also authorized strong actions against unregistered businesses.
If a business refuses to register, tax authorities can freeze its bank accounts, bar property transfers, seal premises, seize movable property, or even appoint a receiver to run it.
These actions will be announced publicly and enforced after due process.
Meanwhile, imported goods like coffee, chocolates, pet food, and cereal bars sold in retail packaging will now be closely regulated. The government may set fixed retail prices for such items to control price manipulation.
On the energy front, the bill empowers the federal government to increase electricity surcharges when needed to fulfill its financial obligations to the power sector, which may translate into higher electricity bills.
The Finance Bill also strengthens the powers of tax and customs officials.
They can now arrest individuals involved in serious tax fraud, with court appearances required within 24 hours.
Offenders could face up to 10 years in prison and Rs10 million in fines.
However, such cases can be settled by paying the full amount of tax evaded along with penalties and surcharges.
Additionally, the bill introduces tech-driven reforms.
The Federal Board of Revenue (FBR) will use artificial intelligence and automated systems to assess taxes and detect fraud.
Internet service providers and telecom companies may be required to share user data during tax investigations.
Audit firms issuing false certifications can also be reported to oversight bodies.
In summary, the Finance Bill 2025 focuses on expanding the tax net, digitizing enforcement, curbing smuggling, and ensuring better compliance. While some measures like tax relief for compliant citizens and digital reforms are seen as progressive, the increased monitoring and penalties will require businesses and individuals to stay cautious and well-informed.
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