Islamabad: The Standing Committee on Finance and Revenue, led by Chairman Syed Naveed Qamar, MNA, has finalized key recommendations for the Finance Bill, 2026, emphasizing the need for tax reforms that promote economic growth without burdening honest taxpayers. The Committee, meeting for the sixth day in Islamabad, called for a fair and transparent tax system that encourages compliance and modernizes tax administration.

According to National Assembly of Pakistan, the Committee conducted a detailed examination of the Finance Bill, 2026, with briefings from the Ministry of Finance, the Federal Board of Revenue (FBR), and other stakeholders. Discussions centered on taxpayer compliance, penalty mechanisms, and the establishment of a Central Data Hub. The Committee reviewed the implications of these reforms on taxpayers, businesses, and the economy, focusing on transparency, efficiency, and privacy protection.

Chairman Qamar highlighted the importance of technology-driven reforms that inspire public confidence and facilitate compliance without infringing on constitutional protections. The Committee also scrutinized proposed penalties for concealed income and assets, advocating for balanced enforcement that addresses tax evasion while protecting compliant taxpayers.

The recommendations emphasized supporting economic stability, promoting investment, and broadening the tax base. The Committee stressed that taxation policies should be equitable and transparent, with sustainable revenue generation achieved by expanding the tax base rather than increasing burdens on existing taxpayers. The efforts of the Ministry of Finance and the FBR were acknowledged, and authorities were directed to incorporate the Committee’s observations into the legislative measures.

The finalized recommendations will be included in the Committee’s Report on the Finance Bill, 2026, for presentation to the National Assembly. The Committee will continue its deliberations on the Finance Bill on June 20, 2026. The meeting was attended by several Members of the National Assembly, the Minister for Finance, and senior officials from relevant ministries and divisions.