Crypto Tax in Pakistan 2026-27: Section 285BAA Reporting, 15% CGT Rules, and Your IRIS Filing Deadline

The Virtual Assets Act 2026 is now law, FBR’s Section 285BAA came into force in Q3 2026, and the existing 15% capital gains tax on crypto profits is the line every Pakistani trader, miner, and DeFi user must understand before the September 30 return deadline.

All PK Taxes Editorial Desk · July 6, 2026 · Verified against FBR SROs and VAA 2026

Pakistan finally has a comprehensive crypto tax framework — three pieces of legislation plus one Section of the Income Tax Ordinance work together to define who owes what, when, and how. For the estimated 20 million-plus Pakistanis who have traded, mined, staked, or received crypto since 2020, the rules are now clearer than at any point in the country’s history, and just as strict.

This guide covers everything a Pakistani crypto user needs to know ahead of the September 30, 2026 salaried filing deadline (October 30 for businesses), the Section 285BAA reporting rollout, and the new PVARA licensing regime. It includes four worked examples, a reconciliation of where the 15% rate came from, and the mining vs staking vs trading tax map.

The three legal instruments that govern crypto tax in 2026

How the 15% capital gains tax actually works

The 15% rate mirrors the existing CGT structure on listed securities and was brought into force for crypto under the Federal Government’s 2025 virtual-asset framework. It applies to realised profit — what you make when you sell, swap, or spend crypto. You are not taxed on unrealised gains, and you are not taxed merely for holding crypto in a self-custody wallet.

What counts as a taxable disposal

• Selling crypto for fiat (PKR, USD, AED) — full gain taxed at 15%.
• Trading one crypto for another — disposing of crypto A and acquiring crypto B is a disposal of A.
• Using crypto to pay for goods or services — disposal at fair market value at the moment of payment.
• Receiving crypto as income — separate income-recognition event at FMV (mining rewards, staking yield, airdrops, freelance payments).

The exemption threshold

Active filers can exempt the first Rs 500,000 of total annual crypto gain from the 15% tax. Above that, every rupee is taxed at 15%. The threshold applies per tax year (July to June), not per transaction, and not per asset — you aggregate gains across all exchanges and wallets before applying the threshold.

How gains are valued — the FIFO rule

The FBR uses FIFO (First-In, First-Out) when you have multiple lots of the same asset bought at different prices. The lot you bought first is deemed disposed of first. This is the same convention used for securities and is enforced under Section 35 of the ITO 2001.

Mining, staking, airdrops, and DeFi — what is and isn’t CGT

The 15% rate only covers disposal of an asset you already hold. Income from creating or receiving assets is taxed separately and often more harshly.

Worked example: a salaried Bitcoin investor

Salaried employee Ayesha, ATL filer, bought 0.5 BTC in January 2025 at PKR 18 million. On 15 August 2026 she sells it for PKR 32 million.

• Gross gain: PKR 14,000,000
• Holding period: 19 months (long-term, qualifies for 15% rate)
• Exemption threshold: first Rs 500,000 exempt
• Taxable gain: PKR 13,500,000
• CGT payable: 15% × PKR 13,500,000 = PKR 2,025,000

Worked example: a miner

Imran runs a 6-rig ASIC farm in Peshawar. In FY 2026-27 he mines 2.1 BTC with a fair market value of PKR 130 million and electricity + depreciation costs of PKR 28 million.

• Taxable mining income (Section 18): PKR 130M − PKR 28M = PKR 102 million
• Personal income tax at top marginal rate (35% above Rs 7M): c. PKR 35 million
• If structured as a private limited company (Section 18 AOP), 29% corporate tax applies

Disposal of mined coins in later years is then subject to the 15% CGT on the difference between sale price and FMV at receipt.

Section 285BAA — the VASP reporting obligation now in force

Section 285BAA, added to the ITO 2001 through Finance Act 2025-26, requires all licensed Virtual Asset Service Providers (exchanges, custodians, OTC desks, derivatives platforms, brokers) to file periodic reports with FBR on user transactions. Pakistan’s CARF alignment pushed the live enforcement phase into Q3 2026, which means every licensed Pakistani VASP is now feeding transaction-level data straight into FBR’s reporting cube.

What does this mean for ordinary users? The bad news is that your trades are now visible to FBR in near real-time. The good news is that IRIS now pre-fills a “Capital Gains — Crypto” worksheet from exchange CSVs, making self-filing much easier.

How to file crypto gains on IRIS in 2026

1. Register or log in at iris.fbr.gov.pk — you will need your CNIC, NTN, and active filer status. For first-timers, see our guide to getting an NTN in Pakistan.
2. Download full annual transaction history from each exchange you used (Binance, HTX, OKX, Bybit, etc.) as CSV and PDF.
3. Reconcile transfers between your own wallets using wallet addresses and timestamps — this is where most first-time filers lose hours.
4. Apply FIFO valuation to each disposal, then aggregate gains and losses.
5. Use the new “Crypto Capital Gains” worksheet under the Capital Gains section of the IRIS form. Pre-fill pulls Section 285BAA-reported data when available.
6. Add mining, staking and airdrop income under Income from Business or Income from Other Sources — separate pages from the CGT worksheet.
7. Pay the calculated tax via 1Link, JazzCash, EasyPaisa, or debit card by the deadline.

Salaried filers must complete the return by September 30, 2026; businesses by October 30, 2026. For reference, see our full guide on how to file income tax return for tax year 2026.

Penalties for non-compliance

Frequently asked questions