Written by Hamza Shahnawaz in Budget 2026-27, Taxation Punjab Finance Act, 2026 increases the concessionary sales tax rate for consultants and rent-a-car services from 5% to 8% without input tax adjustment. LAHORE: The Punjab government has increased the concessionary sales tax rate on consultancy services to 8 per cent under the Punjab Finance Act, 2026, raising the rate from 5 per cent for the fiscal year 2026-27. The revised rate applies to specified professional services provided without the facility of input tax adjustment and forms part of the provincial government’s revenue measures for the new financial year. Consultancy services taxed at 8% Under the amended law, an 8 per cent sales tax will apply, without input tax adjustment, to services relating to accountancy, auditing, taxation and corporate law consultancy. The revised rate covers services provided by: • Accountants, including practising chartered accountants and cost accountants; • Auditors; • Actuaries; • Tax consultants, by whatever name called; • Practising company secretaries; • Receivers; • Liquidators; • Auctioneers; and • Corporate law consultants. The concessionary rate is available on the condition that input tax adjustment is not claimed. Previously, these professional services were subject to a 5 per cent sales tax under the same conditions. Higher tax on rent-a-car…