Islamabad: A meeting of the National Tax Council (NTC) was held at the Finance Division, chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb. The session focused on tax reforms and harmonization, following the recent National Fiscal Pact between the Federation and the Provinces. The emphasis was placed on realizing the tax potential from under-taxed sectors like real estate, property, and agricultural income.

According to Press Information Department, the meeting was attended by key figures, including Mr. Ali Parvez Malik, Minister of State for Finance & Revenue; Mian Mujtaba Shuja-ur-Rehman, Finance Minister of Punjab; Mr. Muzzamil Aslam, Finance Minister of KPK; and Mir Shoib Nausherwani, Finance Minister of Balochistan. Chairpersons of the Federal Board of Revenue and Provincial Revenue Boards, along with experts from the World Bank, also participated.

Discussions focused on enhancing data sharing and tax digitization through improved information-sharing mechanisms and digital solutions. Efforts to harmonize the General Sales Tax (GST) across provinces and transition to a unified tax portal were also highlighted. The meeting reviewed provincial tax reforms, especially in agricultural income and property taxation, ensuring alignment with federal policies. Strategies to broaden the tax base and transition GST on services to a broader framework were also explored.

The Council stressed the importance of cohesive policy implementation and stakeholder engagement for sustainable reforms. The Federal Minister reiterated the government’s commitment to a unified tax framework. The meeting concluded with actionable steps to advance the discussed reforms.