Pakistan introduces new tax return system for salaried class

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has announced that a new simplified tax return system will be operational by September 2025, just in time for the next tax filing season.

The minister shared this update during a meeting with a delegation from Afiniti, a global AI technology firm. The visiting team was led by Jerome Vaughan Kapelus, CEO of Afiniti Software Solutions Pvt Ltd, and included Wedley Howard Fink (CFO), Osman Asghar Khan (MD & GM of Afiniti Pakistan), and Fakhar Ejaz (Senior Vice President of Global HR).

Aurangzeb emphasized the government’s commitment to streamlining the tax process, particularly for the salaried class, by reducing the number of fields in tax return forms. This move aims to boost participation in the tax system and make filing more efficient.

The meeting also covered discussions on Afiniti’s business expansion in Pakistan, workforce recruitment, and taxation-related concerns. CEO Kapelus highlighted that nearly 80% of Afiniti’s operational support team is based in Karachi, Lahore, and Islamabad. He further noted the company’s global growth, with a customer base across North America, Europe, and other regions.

Aurangzeb acknowledged the significant potential of Pakistan’s IT and agriculture sectors, stating that these industries benefit from strong local input. He assured the delegation of the government’s commitment to fostering a supportive environment for both sectors.

Additionally, the minister briefed the delegation on the upcoming Pakistan Crypto Council, an initiative aimed at integrating blockchain technology and digital assets into the national financial landscape.

With these reforms, Pakistan aims to enhance its taxation system while supporting key economic sectors for sustainable growth.

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