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IMF direction: Tax Simplification Plan by May 2026

15 December 2025

Author: Asif S Kasbati (FCA, FCMA & LLB)

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From: Asif Siddiq Kasbati <asif.s.kasbati@professional-excellence.com>
Date: Thu, Dec 11, 2025 at 1:14 PM
Subject: TLQC3387= IMF direction: Tax Simplification Plan by May 2026
 
590+ Taxes & Levies Quick Commentary - TLQC 3387

 

A. Background

 

1. We also refer to the related Important TLQC’s in trail, blue, italic and double Line (a) 3243 of 24.8.25 about So-called Simplified & Delayed Salaried class (with no business) TY 2025 Form - SRO 1561 (b) 2580 of 20.12.23 about Tax Simplification and Huge Electricity & Petrol Free from Taxpayers money

 

B. Updated Commentary

 

1. Further to KQU 3691 of 8.12.25, being an important matter, we would inform you about Pakistan told to Release Tax Simplification Plan by Next Year (Attachment 3387.1) in ensuing paragraph, with emphasis ours in bold & Underline for quick reading.

 

2. The IMF has urged Pakistan to implement a series of critical reforms before the announcement of the next fiscal year’s budget, with a particular focus on simplifying the country’s tax system.

 

3. According to documents, the IMF has called for Pakistan to release a Comprehensive Tax Simplification Strategy by May 2026. The Fund has also recommended reducing tax exemptions across various sectors, as well as scaling back special tax regimes, heavy withholding and advance taxes.

 

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Should you require any clarification or explanations in respect of the above or otherwise, or require Income Tax, Federal & Provincial Sales Tax or Withholding Tax Statement, Advisory, Return Filing or Review services, please feel free to email Mr Amsal at amsal@kasbati.co with CC to info.kasbati@professional-excellence.com, asif.s.kasbati@professional-excellence.com.


 

Best regards for Here & Hereafter

Asif S Kasbati (FCA, FCMA & LLB)


 

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