CCoRR approved Reform Package-6 to streamline corporate taxation and introduce a modern regulatory compliance framework, strengthening Pakistan’s business and investment environment.
Today, the Cabinet Committee on Regulatory Reforms (CCoRR), chaired by Federal Minister for Investment, Mr. Qaiser Ahmed Sheikh, and SAPM on Industries & Production, Mr. Haroon Akhtar, convened to deliberate on two important reform initiatives under Reform Package 6, aimed at strengthening Pakistan’s business and investment environment.
The two agendas taken up were:
☑️ Streamlining Pakistan’s corporate taxation regime by addressing seven structural issues that impact business liquidity, investment, entrepreneurship, and formalisation, covering delayed tax refunds, venture capital and private equity investment, inter-corporate taxation, LLP taxation, minimum turnover tax, taxation of bonus shares, and GST treatment of medical devices.
☑️ Introducing a new regulatory compliance facilitation framework designed to modernize the relationship between regulators and businesses, promoting compliance through transparency, due process, risk-based inspections, and regulatory facilitation, while maintaining strict accountability for serious violations.
The Committee endorsed all proposed reforms and directed the Board of Investment to pursue their implementation in coordination with the relevant stakeholders.
These reforms represent another important step towards creating a more predictable, efficient, and investment-friendly regulatory environment that supports economic growth, innovation, private sector expansion, and business formalisation.