{"id":2274,"date":"2025-05-23T12:04:06","date_gmt":"2025-05-23T07:04:06","guid":{"rendered":"https:\/\/pcn58.com.pk\/?p=2274"},"modified":"2025-05-23T12:04:06","modified_gmt":"2025-05-23T07:04:06","slug":"acca-pakistan-releases-budget-proposal-for-fy-2025-26","status":"publish","type":"post","link":"https:\/\/pcn58.com.pk\/index.php\/2025\/05\/23\/acca-pakistan-releases-budget-proposal-for-fy-2025-26\/","title":{"rendered":"ACCA Pakistan Releases Budget Proposal for FY 2025\u201326"},"content":{"rendered":"\n<p>ACCA (the Association of Chartered Certified Accountants) Pakistan has officially released its <strong>comprehensive Budget Proposal for the fiscal year 2025\u201326<\/strong>, presenting a well-rounded, reform-oriented roadmap to strengthen Pakistan\u2019s taxation system and promote sustainable economic growth.<\/p>\n\n\n\n<p>This proposal reflects over a decade of engagement with Pakistan\u2019s fiscal reform process and is informed by extensive consultation with ACCA\u2019s <strong>Members\u2019 Network Panel (MNP)<\/strong>, comprised of experienced finance professionals from leading firms and industries across the country. This year\u2019s document also includes insights from ACCA\u2019s <strong>key Professional Insights (PI) reports<\/strong>, including <em>Tax as a Force for Good<\/em>, <em>Public Trust in Tax<\/em>, <em>Technology and Tools of Tax Administration<\/em>, and <em>Business Confidence Survey<\/em>, providing a rich global context to the local challenges.<\/p>\n\n\n\n<p>\u201cACCA\u2019s tax tenets stress simplicity, certainty, efficiency, and fairness. 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,\u201d said Assad Hameed Khan, Head of ACCA Pakistan.<\/p>\n\n\n\n<p>\u201cACCA\u2019s budget proposal recognises the urgent need for systemic reform and a vision for a self-reliant and prosperous economy. It sets out a clear, practical pathway for transforming Pakistan\u2019s taxation system into one that not only raises revenue but actively enables economic opportunity and citizen trust,\u201d said Aucky Pratama, Executive Director \u2013 Asia Pacific, ACCA.<\/p>\n\n\n\n<p>\u201cHaroon A Jan\u201d, Head of Member Engagement ACCA, added: \u201cThis proposal is a reflection of the collective insight of our professional community in Pakistan. We\u2019ve worked hard to ensure that the recommendations are practical, policy-relevant, and guided by ACCA\u2019s global best practices, while staying grounded in the realities of Pakistan\u2019s tax and economic landscape.\u201d<\/p>\n\n\n\n<p><strong>Key Highlights of the Proposal:<\/strong><\/p>\n\n\n\n<ul>\n<li><strong>Simplification<\/strong>: Proposal to establish an independent <strong>Tax Law Simplification Commission<\/strong>, building on international models like the UK\u2019s Office of Tax Simplification and India\u2019s Direct Tax Code initiative.<\/li>\n\n\n\n<li><strong>Certainty<\/strong>: A proposed <strong>3\u20135 year Tax Policy Roadmap<\/strong> to improve predictability, support business planning, and attract investment.<\/li>\n\n\n\n<li><strong>Openness &amp; Transparency<\/strong>: Recommendation for a <strong>Taxpayer Engagement &amp; Transparency Portal<\/strong>, modelled on Canada\u2019s CRA and the UK\u2019s HMRC public consultation mechanisms.<\/li>\n\n\n\n<li><strong>Fairness<\/strong>: Harmonised tax rates for salaried and non-salaried individuals, equitable treatment of sportspersons and professionals, and a 35% marginal tax rate for income exceeding PKR 50 million.<\/li>\n\n\n\n<li><strong>Incentivisation<\/strong>: Targeted tax relief for <strong>IT and AI-based R&amp;D<\/strong>, green economy investment, and documented trade (e.g., Section 65A restoration).<\/li>\n\n\n\n<li><strong>Digital Enablement<\/strong>: Expansion of mandatory e-filing and POS integration, with support from global examples like Estonia\u2019s e-Tax Board and India\u2019s AI-driven tax audits.<\/li>\n\n\n\n<li><strong>Dispute Resolution Reform<\/strong>: Proposal to reinstate judicial neutrality by appointing tribunal members through the <strong>Federal Public Service Commission (FPSC)<\/strong>.<\/li>\n\n\n\n<li><strong>Accountability<\/strong>: Establishment of an <strong>Independent Tax Oversight Body<\/strong>, following the models of TIGTA (US) and Australia\u2019s Inspector-General of Taxation.<\/li>\n<\/ul>\n\n\n\n<p>Strategic extracts from ACCA\u2019s global Professional Insights reports are included in the proposal to link policy with global best practices and thought leadership.<\/p>\n\n\n\n<ul>\n<li><strong>Top 3 Roadmap Priorities<\/strong>: The proposal now includes a structured roadmap for the three most urgent reforms\u2014Tax Law Simplification, Policy Certainty, and Real Estate Valuation Reform.<\/li>\n\n\n\n<li><strong>Professional Credentials<\/strong>: The proposal leverages the expertise of ACCA\u2019s Members\u2019 Network Panel and includes a spotlight on global tax experts who contribute to ACCA\u2019s knowledge base.<\/li>\n<\/ul>\n\n\n\n<p>\u201cThis document reflects our intent to contribute not just as technical advisors, but as partners in Pakistan\u2019s economic development journey,\u201d said Rauf Ali Jan FCCA, Chairman of ACCA Pakistan\u2019s MNP and Head of the Taxation Subcommittee.<\/p>\n\n\n\n<p>ACCA reiterates its willingness to work alongside public institutions, businesses, and civil society to support a <strong>fiscally sustainable and investment-friendly environment<\/strong>. The full proposal is available on request and will be shared with key stakeholders and decision-makers in the coming weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ACCA (the Association of Chartered Certified Accountants) Pakistan has officially released its comprehensive Budget Proposal for the fiscal year 2025\u201326, presenting a well-rounded, reform-oriented roadmap to strengthen Pakistan\u2019s taxation system &hellip; <a href=\"https:\/\/pcn58.com.pk\/index.php\/2025\/05\/23\/acca-pakistan-releases-budget-proposal-for-fy-2025-26\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[8],"tags":[290],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/posts\/2274"}],"collection":[{"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/comments?post=2274"}],"version-history":[{"count":1,"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/posts\/2274\/revisions"}],"predecessor-version":[{"id":2275,"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/posts\/2274\/revisions\/2275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/media\/241"}],"wp:attachment":[{"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/media?parent=2274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/categories?post=2274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pcn58.com.pk\/index.php\/wp-json\/wp\/v2\/tags?post=2274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}