Bank transactions above Rs. 100 million to be reported
Key takeaways
- Under the Finance Act 2026, the data of all those bank account holders whose cumulative deposits or withdrawals exceed Rs. 100 million over six months would be provided for digital scrutiny.
- According to the Finance Act 2026, a new provision Section 165AB has been added to the Income Tax Ordinance, 2001, titled “Reporting of Financial Transaction Data by Banking Companies and Financial Institutions.”
- Banks will share the data of account holders whose collective transactions across one or more accounts reach or exceed Rs.100 million during a six-month reporting period.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize ISLAMABAD: The government of Pakistan has introduced a new law requiring banks and financial institutions to report details of high-value banking transactions to help combat tax evasion, with the measure coming into effect on 1 July.
Under the Finance Act 2026, the data of all those bank account holders whose cumulative deposits or withdrawals exceed Rs. 100 million over six months would be provided for digital scrutiny.
According to the Finance Act 2026, a new provision Section 165AB has been added to the Income Tax Ordinance, 2001, titled “Reporting of Financial Transaction Data by Banking Companies and Financial Institutions.”