Karachi, January 19, 2026 – The State Bank of Pakistan (SBP) has reported a sharp increase in the country’s current account deficit, which surged to $1.74 billion during the first half (July–December) of fiscal year 2025-26. This represents a significant shift from a current account surplus of $957 million recorded in the same period last year.
(more…)Author: Shahnawaz Akhter
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Procedure for Attachment and Sale of Movable Property by FBR Officials in 2026
Updated under Sales Tax Rules, 2006 (Tax Year 2026)
The Sales Tax Rules, 2006, as updated for tax year 2026, prescribe a comprehensive legal framework for the attachment and sale of movable property of sales tax defaulters by officials of the Federal Board of Revenue (FBR). These rules ensure due process, proportionality, and transparency in recovery proceedings.
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KCCI expresses grief over Gul Plaza fire, forms committee to assess losses
Karachi, January 18, 2026 – The Karachi Chamber of Commerce and Industry (KCCI) has expressed deep sorrow over the tragic fire incident at Gul Plaza on M.A. Jinnah Road, which claimed precious human lives and caused massive destruction to one of Karachi’s busiest commercial hubs.
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FBR to Finalize New Property Valuation Tables for Islamabad by January 31
Islamabad, January 18, 2026 – The Federal Board of Revenue (FBR) is set to decide on revised property valuation tables for District Islamabad by the end of January 2026, following objections raised by real estate stakeholders over discrepancies in assessed values.
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Pakistan’s rice exports drop 50% in 1HFY26 amid tax and price challenges
Islamabad, January 18, 2026 – Pakistan’s rice exports plunged 50% during the first half of fiscal year 2025-26 (July–December), declining to $940 million from $1.88 billion in the same period last year, according to the Pakistan Bureau of Statistics (PBS).
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FPCCI criticizes government over hike in petroleum levy
Islamabad: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has sharply criticized the government’s recent increase in petroleum levies, warning that it is placing further financial strain on consumers and businesses already grappling with high inflation.
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IRSOA expresses solidarity with commissioner amid court proceedings
Islamabad, January 17, 2026 — The Inland Revenue Service Officers Association (IRSOA) has expressed serious concern over efforts to register a First Information Report (FIR) against a serving Inland Revenue Commissioner over allegations of using threatening language toward a lawyer.
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Which Type of Property Can FBR Sell for Sales Tax Recovery in 2026?
Sales tax defaulters should be aware that the Federal Board of Revenue (FBR) has the authority to attach and sell movable or immovable property to recover unpaid sales tax under Rule 80 of the Sales Tax Rules, 2006 (updated for 2026). Knowing what can—and cannot—be sold is crucial for compliance and planning.
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Can FBR Sell a Defaulter’s Property to Recover Sales Tax?
Yes, the Federal Board of Revenue (FBR) has the authority to take stringent actions, including the sale of movable or immovable property, to recover unpaid sales tax from defaulters. This is provided under Rules 72–74 of the Sales Tax Rules, 2002 (updated for 2026). Understanding this process is essential for businesses and individuals to stay compliant.
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How FBR Initiates Sales Tax Recovery from Defaulters: A Complete Guide
The Federal Board of Revenue (FBR) has clear powers under Rule 71 of the Sales Tax Rules, 2006 (updated for 2026) to recover sales tax from defaulters. Understanding how these recovery actions work can help businesses stay compliant and avoid legal complications.
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