Pakistan’s Financial Year: July to June and Key Dates

Pakistan’s financial (fiscal) year runs from 1 July to 30 June. The current one, FY2026-27, ends on Wednesday, June 30, 2027, which is 267 days or about 38 weeks from today. About 27% of the year has gone.

How the year is named

Because the year straddles two calendar years, it is written with both: the year from 1 July 2026 to 30 June 2027 is FY2026-27, often shortened to FY27. The federal government, the provinces, the State Bank of Pakistan and most listed companies report on this basis.

For income tax, the Federal Board of Revenue (FBR) uses the term tax year, named after the calendar year in which it ends. So the year ending 30 June 2027 is Tax Year 2027. This is a common source of confusion on tax forms: Tax Year 2027 is the same period as FY2026-27.

The four quarters

Note that Pakistan’s Q1 is July to September, not January to March. Government statistics on growth, revenue and spending are often reported by fiscal quarter, so “Q1 FY27” means July to September 2026. You can compare calendar quarters on the 2027 quarters page.

Key dates in the financial year

• 1 July: the new fiscal year starts, and the new Finance Act takes effect, including any changes to tax rates and slabs.
• 30 September: the usual deadline for individuals, including salaried people, to file their income tax return for the tax year that ended on 30 June. FBR often extends this deadline, so check the latest announcement.
• December: the halfway point of the fiscal year.
• June: the federal budget for the next fiscal year is usually presented in the National Assembly in June, and the provincial budgets follow. It has to be passed before 1 July.
• 30 June: the fiscal year ends. Businesses close their books, and many employers calculate final tax deductions for salaried staff.

Why July to June?

Pakistan inherited the July-June fiscal year at independence. It fits the farm cycle well: the wheat harvest comes in around April and May, so by June the government has a clear picture of the main crop before setting the next budget. Several other countries, including Australia and Egypt, also use a July-June year, while India uses April-March and the UK government uses April-March.

A worked example: salaried tax

Suppose you start a job on 1 October. For tax purposes your income for that tax year covers 9 months (October to June), not 12. Your employer deducts tax each month based on an estimate of your annual income, and the final figure is settled when you file your return after 30 June. You can estimate your tax with the Pakistan tax calculator; it uses the slabs in force for the current tax year, which change with each budget.

Counting down to year-end

If you’re an accountant, business owner or student working on year-end projects, it helps to know exactly how long remains. The weeks until the end of the financial year page counts down to 30 June, and the date duration calculator works out the gap between any two dates, such as an invoice date and the year-end.

Fiscal year versus calendar year at a glance

A quick way to place any date: if the month is July to December, the fiscal year is the current calendar year plus the next one (for example, a payment on 15 October 2026 belongs to FY2026-27). If the month is January to June, it belongs to the fiscal year that started the previous July. Tax Year follows the same rule and simply takes the second of the two years as its name.

This matters for things like claiming tax credits, matching bank certificates to the right return, and reading company annual reports, which compare one July-June year against the last. If you need to work out percentage changes between two years’ figures, the percentage calculator does it quickly.

Frequently asked questions