The Federal Board of Revenue (FBR) has initiated measures to impose income tax on revenues generated through social media platforms. A formal mechanism has been devised to facilitate tax recovery from digital income sources, with experts invited to submit their recommendations within a one-week timeframe. After this period, the finalized tax framework will be enforced, incorporating all received feedback.
Under a specialized procedure outlined in Article 99-C, both residents and non-residents earning from Pakistani viewership and subscriptions will be liable for taxation. Social media accounts boasting at least 50,000 subscribers will now be officially recognized as business entities. Additionally, accounts achieving 12,500 views in a single quarter will also fall under business classification for tax purposes.
FBR officials have proposed a benchmark for YouTube earnings, suggesting that an income rate of Rs 195 per 1,000 views be used as the standard for tax assessment. This move marks a significant step in regulating digital income streams within the country.
Meanwhile, the FBR Collectorate of Customs Appraisement & Enforcement in Quetta has exceeded its revenue collection goals for the third quarter. Surpassing the target of Rs 7.36 billion, the collectorate amassed Rs 9.4 billion in revenue.
Despite challenges posed by the ongoing conflict in the Middle East, Pakistan Customs maintained efficient trade operations. The department ensured the continuous clearance of Liquefied Petroleum Gas (LPG) and other vital commodities. Furthermore, export activities through the Taftan border remained fully functional, with the collectorate providing extensive support to facilitate exports to Iran and Central Asian nations.
