Islamabad, September 1, 2025 – The Federal Board of Revenue (FBR) has formally launched penal proceedings against corporate taxpayers and importers failing to comply with mandatory digital invoice regulations.
(more…)Author: Shahnawaz Akhter
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Pakistan achieves record repayment of domestic debt
Islamabad, August 31, 2025 – In an unprecedented fiscal milestone, the government of Pakistan has made a record repayment of domestic debt, significantly ahead of schedule, signaling a strategic shift toward financial discipline and sustainability.
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Unlocking best judgment assessment for tax year 2025-26
Islamabad, August 31, 2025 – The Federal Board of Revenue (FBR) has introduced a clearer definition of best judgment assessment for the tax year 2025-26 through amendments to the Sales Tax Act, 1990, updated via the Finance Act, 2025.
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No notice required for sales tax recovery under section 11A
Islamabad, August 31, 2025 – The Federal Board of Revenue (FBR) has clarified that tax officers are not obligated to issue a notice before initiating recovery proceedings for short-paid sales tax under Section 11A of the Sales Tax Act, 1990.
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FBR issues procedure for input tax refunds in tax year 2025-26
KARACHI, August 31, 2025 – The Federal Board of Revenue (FBR) has released updated guidelines for claiming refunds of input tax for the tax year 2025-26.
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Advance tax rates on brokerage, commission for 2025-26
KARACHI: The Federal Board of Revenue (FBR) has announced revised advance tax rates applicable on brokerage and commission for the tax year 2025-26.
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NBP reports Rs36 billion income tax disputes with FBR
Karachi, August 30, 2025 – The National Bank of Pakistan (NBP) has disclosed that its ongoing income tax disputes with the Federal Board of Revenue (FBR) have reached an aggregate value of approximately Rs36 billion by the end of the second quarter of 2025.
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FBR issues 2025-26 withholding tax card for motor vehicles
Islamabad, August 30, 2025 – The Federal Board of Revenue (FBR) has issued the updated withholding tax card for Tax Year 2025-26, covering the period from July 1, 2025, to June 30, 2026.
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Customs clearing agents welcome faceless system implementation
Karachi – August 29, 2025 – The All Pakistan Customs Agents Association (APCAA) and Karachi Customs Agents Association (KCAA) have expressed strong satisfaction with the introduction of the Faceless Customs Clearance system, calling it a milestone in modernizing trade procedures.
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SBP orders banks to track billions in outward remittances
KARACHI, August 29, 2025 – The State Bank of Pakistan (SBP) has instructed all banks to provide detailed data on outward remittances and foreign exchange transactions sent abroad by corporate entities and individual investors.
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