New Tax Form Simplifies for Salaried Workers

Islamabad, August 28, 2025, 08:44 PM PKT — Finance Minister Muhammad Aurangzeb has unveiled a game-changing reform, introducing a simplified income tax return form for salaried individuals, slashing fields from 800 to 40, a bold step toward an efficient, predictable tax system, as announced at the “Building a Resilient Public Financial Management Ecosystem” conference, per official reports. The new form, open for 40-day public consultation on the Federal Board of Revenue (FBR) website, aims to benefit 80% of salaried taxpayers, with Aurangzeb urging stakeholder feedback and shifting tax policy-making from FBR to the Ministry of Finance for enhanced strategic coherence and fiscal governance.

The minister warned against ad hoc tax measures, citing past damage to domestic industry, and outlined a new industrial policy to attract long-term investment and rebuild eroded investor confidence, alongside accelerating privatization and boosting state-owned enterprise (SOE) efficiency. He flagged climate change and population growth as existential threats, stressing alignment with international financial standards for stronger governance. The conference, hosted by the Institute of Chartered Accountants of Pakistan (ICAP) and Chartered Institute of Public Finance and Accountancy (CIPFA), featured Privatisation Minister Muhammad Ali, Climate Change Minister Musadik Malik, and IPSASB’s Ross Smith. Web context on tax reforms shows past resistance, while posts found on X reflect hope mixed with skepticism—some welcome simplicity, others question implementation. Critically, the narrative of “tax efficiency” may mask execution risks—web data hints at past delays, and X sentiment suggests distrust in sustained reform, pointing to potential challenges.