Government Plans to Simplify Salaried Class Tax Returns and Onboard Small Traders

• Finance Minister criticized the complex tax return form for salaried workers.
• Pakistan has requested a $10 billion Exchange Stabilization Support Facility from US.
• The FBR launched the ‘Fixed Tax Asaan Scheme’ mobile app.

Finance Minister Muhammad Aurangzeb, State Minister for Finance Bilal Azhar Kayani, and FBR Chairman Rashid Mahmood Langrial led a press conference at the Federal Board of Revenue (FBR) headquarters in Islamabad to launch the “Asaan Tajir” mobile application.

During the briefing, the economic leadership addressed tax net expansion, sales tax evasion, economic stabilization, and Pakistan’s ongoing financial negotiations with the US Treasury.

Simplified Tax Returns for Salaried Class

Finance Minister Muhammad Aurangzeb stated there is “no logic” behind requiring a long and complicated tax return form from salaried taxpayers. He noted that even an MBA graduate would struggle to fill out the form without assistance.

He said, since 70% of salaried income is directly deposited into bank accounts after source tax deduction, the process should be straightforward. He confirmed that the government is working to trim the form down to 6–8 pages.

$10 Billion US Exchange Stabilization Facility

Finance Minister confirmed that Pakistan has formally approached the US Treasury for a $10 billion Exchange Stabilization Support Facility. He explained that this proposed facility is designed to signal currency stability, strengthen foreign exchange reserves, and boost international market confidence rather than serve as a traditional loan.

Minister stated that discussions are underway with the US Treasury and the US Exim Bank, and feedback is expected by September.

He added that Pakistan is also working on extending the repayment tenors of its bilateral loans up to 5, 7, or 10 years to reduce reliance on short-term rollovers.

‘Asaan Scheme’ App for Small Traders

Bilal Kayani and Rashid Langrial announced the official launch of the Asaan Tajir app on the Google Play Store. It is designed for the Fixed Tax Asaan Scheme to onboard nearly 4.2 million small retailers into the formal economy easily.

Finance Minister Aurangzeb cautioned that shopkeepers who fail to join either this scheme or the regular tax regime will face strict legal enforcement.