ISLAMABAD: The Federal Board of Revenue (FBR) has proposed a 12-month holding period for investors to qualify for the concessionary tax regime on investments made through Special Convertible Rupee Accounts (SCRAs), according to FBR Chairman Rashid Mahmood Langrial.
He made the statement on Saturday during a review of the Finance Bill (2025-26) at a meeting of the National Assembly Standing Committee on Finance.
Chairman of the finance committee Naveed Qamar said the proposed holding period would discourage investment in SCRAs. He suggested the government should consider a holding period of three to six months instead.
The FBR chairman agreed with Qamar’s view and said a six-month period could be proposed. He added that the FBR has already discussed the matter with the State Bank of Pakistan.
A three-month period, he said, would need approval from the federal cabinet.
Committee member Mirza Ikhtiar Baig said the government must consider the interests of overseas Pakistanis investing in SCRAs.
Later in the meeting, Muhammad Ali Malik, executive director at the State Bank of Pakistan, joined the session online from Karachi. He clarified that the proposed amendment is related to SCRAs and not the Roshan Digital Account.
He said a holding period should be in place to discourage short-term investments in SCRAs. He added that the tax benefit should apply only to investments held for more than a year.
According to the State Bank’s assessment, introducing a one-year holding period would not have any immediate or significant impact on investments.
In conclusion, the finance committee proposed a six-month holding period for investors to access the concessionary tax regime on SCRA investments.
