Event Brief
May 7, 2026 at 1:04 PM ET
FCC sets aside ITO section on ‘deemed income’ tax
By The BriefBrief
Pakistan’s Federal Constitutional Court struck down ITO Section 7E enabling tax on deemed income from assets.
WHO: Federal Constitutional Court (FCC)
WHAT: FCC set aside Income Tax Ordinance Section 7E as ultra vires the Constitution
WHEN: May 7, 2026 at 12:16 PM ET
WHERE: Islamabad, Pakistan
WHY: Section 7E was found ultra vires the Constitution.
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