Islamabad, August 7, 2025 – In a significant administrative move, the Federal Board of Revenue (FBR) has announced a large-scale reshuffle involving 57 officers of the Inland Revenue Service in BS-19 and BS-20.
(more…)Author: Shahnawaz Akhter
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FBR slams media for misleading reports on FCA
Islamabad, August 7, 2025 — In a blistering rebuttal, the Federal Board of Revenue (FBR) has condemned what it calls a “malicious media campaign” aimed at sabotaging Pakistan Customs’ groundbreaking Faceless Customs Assessment (FCA) system.
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Pakistan’s weekly forex reserves fall by $111 million: SBP
Karachi, August 7, 2025 — Pakistan’s foreign exchange (forex) reserves declined by $111 million during the week ending August 1, 2025, according to the latest data released by the State Bank of Pakistan (SBP) on Thursday.
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Provinces report only 0.9% tax-to-GDP ratio in FY2024-25
Islamabad, August 7, 2025 – The provinces of Pakistan collectively reported a tax-to-GDP ratio of just 0.9% for the fiscal year 2024-25, reflecting modest growth in tax revenue despite a significant increase in the size of the national economy.
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FBR issues procedure for tax fraud probe under Section 37A
Islamabad, August 7, 2025 – The Federal Board of Revenue (FBR) on Thursday issued procedure for initiating tax fraud investigation under Section 37A of the Sales Tax Act, 1990.
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Karachi pays Rs34 billion tax on electricity bills in FY25
Karachi, August 7, 2025 – In a staggering revelation, Karachi’s citizens and business community have coughed up a jaw-dropping Rs34 billion in withholding income tax on electricity bills during the fiscal year 2024–25.
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FBR targets 14 key sectors for intensive tax scrutiny
Karachi, August 6, 2025 – The Federal Board of Revenue (FBR) has launched the first phase of an aggressive tax scrutiny campaign, identifying 14 priority sectors for detailed auditing and compliance monitoring.
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Sindh links cess relief to court case withdrawals
Karachi, August 6, 2025 – The Sindh government has extended a conditional proposal to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to reduce the infrastructure development cess to 1%, provided all pending court cases against the cess are collectively withdrawn by the business community and corporate sector.
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Finance Act 2025 sets retail price for imported goods: FBR
Karachi, August 6, 2025 – The Federal Board of Revenue (FBR) has announced a significant policy change under the Finance Act, 2025, aimed at enhancing transparency and revenue collection through the regulation of retail pricing for imported goods.
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MCB Bank sees profit dip, pays Rs33bn tax in H1 2025
Karachi, August 6, 2025 – MCB Bank has paid a record Rs33 billion in income tax during the first half of calendar year 2025 (January to June), surpassing its net profit of Rs29.39 billion for the same period, according to the consolidated financial results submitted to the Pakistan Stock Exchange (PSX).
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