Budget 2025-26: Senate panel seeks to ease tax rules for buying property
A parliamentary committee has recommended raising the threshold limit for purchases made by “eligible individuals” — a new term for people who file their tax returns — and approved a measure to tax luxury clubs nationwide. The development came as the Senate and National Assembly Standing Committees on Finance and Revenue held simultaneous sessions at Parliament House to conduct a clause-by-clause review of the Finance Bill 2025-26. Chaired by Senator Saleem Mandviwalla and MNA Naveed Qamar respectively, both panels proposed several amendments and rejected some measures outright. The Senate standing committee expressed concern over the newly inserted clause in the Finance Bill, which restricts the “eligible person” from making any purchase exceeding 130 per cent of the wealth reflected in their last year’s wealth statement.