Karachi, June 22, 2025 – The Senate of Pakistan has proposed significant changes to the Finance Bill, 2025, recommending a substantial increase in the threshold of financial resources required for certain transactions.
(more…)Author: Shahnawaz Akhter
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Senate recommends amendments to FBR’s arrest powers
Islamabad, June 22, 2025 — The Senate of Pakistan has formally submitted a set of recommendations to the National Assembly, seeking crucial amendments to the arrest powers of Federal Board of Revenue (FBR) officers under the proposed Finance Bill, 2025.
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Senate proposes major relief on salary tax in Finance Bill 2025
Islamabad, June 21, 2025 — In a move aimed at providing relief to salaried individuals, the Senate of Pakistan has recommended increasing the tax exemption threshold on salary income from the existing Rs600,000 to Rs1.2 million per annum.
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FBR further extends deadline for mandatory electronic integration
Islamabad, June 21, 2025 — The Federal Board of Revenue (FBR) has once again extended the deadline for mandatory electronic integration of businesses into its centralized computerized system, in a continued effort to strengthen digital tax documentation and ensure comprehensive compliance.
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Port Qasim leads in five-year customs duty collection in Pakistan
Karachi, June 21, 2025 – In a comprehensive review of customs duty performance over the past five fiscal years, Port Qasim has emerged as the top contributor in Pakistan’s customs duty collection, highlighting its strategic importance in the country’s import landscape.
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FTO directs FBR to cease sealing of Tier-1 retail outlets
Islamabad, June 21, 2025 – In a significant decision for Pakistan’s formal retail sector, the Federal Tax Ombudsman (FTO) has ordered the Federal Board of Revenue (FBR) to immediately halt the sealing of Tier-1 retail outlets.
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Foreign investors strongly oppose FBR’s proposed arrest powers
Karachi, June 21, 2025 – Foreign investors operating in Pakistan have voiced strong opposition to the sweeping powers of arrest proposed for Federal Board of Revenue (FBR) officials under the Finance Bill 2025-26.
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ICMAP suggests 90-day oil reserves amid Iran-Israel conflict
Karachi, June 20, 2025 – The Institute of Cost and Management Accountants of Pakistan (ICMAP) has urged the government to build up 90-day oil reserves as a strategic response to the ongoing Iran-Israel conflict, which has triggered serious concerns about regional energy security and economic stability.
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FBR clarifies arrest powers proposed under Finance Bill 2025
Islamabad, June 20, 2025 — The Federal Board of Revenue (FBR) on Friday issued a detailed clarification regarding the arrest provisions proposed in the Finance Bill 2025, aiming to address widespread confusion and public concern over its interpretation.
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FBR collects Rs180 billion in regulatory duty during FY24
KARACHI, June 20, 2025 – The Federal Board of Revenue (FBR) has reported the collection of Rs180.54 billion in regulatory duty during the fiscal year 2023-24, marking a year-on-year increase of 4.3% compared to Rs173 billion in FY23.
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