ISLAMABAD – More institutions have been added to the list already benefiting from tax exemptions in the Finance Bill 2025-26 recently passed Parliament.
Reports said tax exemptions have been granted to the pension of the former President of Pakistan and his widow, the State Bank of Pakistan, the State Bank of Pakistan Banking Services Corporation, the Federal Board of Revenue Foundation, the Pakistan Council of Scientific and Industrial Research, and the Pakistan Water and Power Development Authority (WAPDA).
In addition, tax exemptions have been granted to the Pakistan Agricultural Research Council, the corporatized entities of WAPDA, the Prime Minister’s Special Fund for Victims of Terrorism, the Chief Minister (Punjab) Relief Fund for Internally Displaced Persons (IDPs) of Khyber Pakhtunkhwa, the National Disaster Risk Management Fund, and the Supreme Court of Pakistan.
According to the report, the Diamer-Bhasha and Mohmand Dams Fund, the Prime Minister’s COVID-19 Relief Fund 2020, the National Endowment Scholarship for Talent, the Securities and Exchange Commission of Pakistan, the Privatization Commission of Pakistan, and the Fauji Foundation have also been granted tax exemptions.
Moreover, tax exemptions have also been extended to the Audit Oversight Board, the Supreme Court Water Conservation Account, the Balochistan Education Endowment Fund, the Army Welfare Trust, the Public-Private Partnership Authority (for tax year 2022 and the next four tax years), the Prime Minister’s Relief Fund for Floods, Earthquakes, and other Disasters, and the Export-Import Bank of Pakistan.
Previously, the FBR had established a regulatory framework for providing tax credits to welfare and non-profit organizations, but now they have been given further facilitation through complete tax exemptions.
The Finance Bill 2025-26 will become an Act today (Monday) after receiving approval from President Asif Ali Zardari.
