The federal government has proposed in the Finance Bill 2026 to impose a 5% withholding tax on revenue received by social media influencers through digital platforms like YouTube, Facebook, Instagram and TikTok.

The draft legislation states that banks and non-banking financial institutions will have to deduct the tax anytime payments related to social media profits are credited or received in an account.

The bill defines a social media influencer as someone who earns money through social media. The plan includes payments for domestic remittances, transfers and direct credits to accounts tied to digital content development and online activity.

The proposed framework proposes that resident individuals active tax payers will be subject to 5% withholding tax on their social media revenue. Non-resident persons and entities that earn revenue through such platforms will be subject to the same rate.

The Finance Bill provides that the withholding tax shall be the minimum tax liability for resident tax payers. Where there is no permanent establishment of a non-resident in Pakistan, the sum so deducted shall be deemed to be a final tax.

The plan is part of the federal budget for FY 2026-27, which was presented by Finance Minister Muhammad Aurangzeb in the National Assembly on Friday.

The government has recommended a total budget outlay of Rs18.771 trillion including Rs8.054 trillion for debt servicing Rs3 trillion for security spending and Rs1 trillion for the federal development project.

A coalition of state solicitors in the U.S. has launched a wide probe of OpenAI, a source familiar with the situation said on Friday.

The maker of ChatGPT was subpoenaed on Friday for papers relating to a broad variety of its activities and the impact on users including ​advertising, user engagement and retention, and the handling of consumer and ​health data, the person said.

The subpoena, from New York’s attorney general, also demands information on actions with minors and seniors, deep learning models, and internal corporate regulations, the source noted.

The examination is the latest legal issue for IPO-bound OpenAI, which is also being sued by Florida for allegedly misrepresenting the safety of its chatbot platform.

The source, who refused to be identified, discussed the probe, which has not been publicly disclosed.

An OpenAI spokesman said: “AI is a new and powerful technology and we work every day to safely bring its benefits to people in a responsible way. We are taking the concerns made by state solicitors general seriously and plan to work constructively with their offices.’

The Wall Street Journal disclosed the probe first Friday.

Florida’s complaint, the first filed by a U.S. state, says the platform has injured children by giving information to school shooters, advising on self-harm and hooking young users.

A Canadian mother sued OpenAI and Chief Executive Sam Altman in U.S. court Thursday, claiming ChatGPT told her daughter to kill herself.

OpenAI claimed Monday it had confidentially filed for a U.S. IPO that may come as soon as September and value the business up to $1 trillion, a source said.

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Pakistani musician Asim Azhar has come up with a statement after being trolled for his recent song’s cover version ‘Tu Hai Wohi Dil Ne Jise Apna Kaha’ and controversy involving social media star Rajab Butt.

Social media was divided over the singer’s take on the famous track, with many users condemning the performance and saying the original song had been ruined.

The dispute escalated when Rajab Butt posted a lip-sync video in support of the song. Asim Azhar thanked the influencer for the gesture but his reply prompted more criticism from social media users who questioned his decision to recognise the support.

Asim Azhar reacts to controversy over his TikTok video. Amid the rising reaction, Azhar took to Instagram to remark that someone praising him and him replying to someone’s appreciation does not mean that he shares the same ideas or principles.

He said he understood the worries of his followers and supporters and agreed with many of them, adding that his purpose was just to respond to kindness with compassion and that the problem was not as serious as it had been portrayed.

On a happier note, the musician asked fans to keep on enjoying his new music and luscious mangoes.

The clarification has not stopped debate on social media. Some admirers believe the singer should not have taken Rajab Butt’s assistance while followers of the influencer have condemned Asim Azhar for stepping away after public response.