The Finance Bill 2025-26, which introduced a number of significant tax reforms and adjustments, went into effect today, marking the official start of the new fiscal year 2025–2026.
The new rules would limit the amount of money that non-taxpayers can remove from their bank accounts and only permit them to keep basic bank accounts. Limited cash withdrawals from non-filers’ accounts will be allowed.
Strict measures against big shops that are not sales tax registered have also been declared by the Federal Board of Revenue (FBR). Today, new taxes on a number of goods, including solar panels, went into force. Salaried people do, however, receive some relief because their income tax rates have been lowered.
