Pakistan, June 19 -- The National Assembly's Standing Committee on Finance on Thursday approved a series of recommendations for the proposed Finance Bill 2026-27, including the imposition of a 5% withholding income tax earned through social media platforms.

Other recommendations included the abolition of a 1% advance tax on exporters and changes to the taxation of inherited properties.

The committee, chaired by Syed Naveed Qamar, resumed its meeting after a lunch break to examine the proposed finance bill for the upcoming fiscal year. During the session, officials of the Federal Board of Revenue (FBR) briefed lawmakers on a range of tax reforms and proposed measures.

Among the key proposals approved was a 5% withholding income tax earn...