Islamabad, October 24, 2025 – The Federal Tax Ombudsman (FTO) has sounded a serious alarm over the Federal Board of Revenue’s (FBR) weak cybersecurity systems, revealing that hackers may have gained repeated unauthorized access to taxpayers’ confidential data.
(more…)Author: Shahnawaz Akhter
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FBR cracks down on Karachi tax fraud with FPCCI, KCCI backing
Karachi, October 24, 2025 – In a major development shaking up the business community, the Federal Board of Revenue (FBR) has announced that it will consult key representatives from Pakistan’s top trade bodies — the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Karachi Chamber of Commerce and Industry (KCCI) — before moving ahead with sales tax fraud investigations in the Karachi region.
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LTO Karachi rakes in Rs757 million tax from lavish weddings and grand functions
Karachi, October 24, 2025 – The glitter and glamour of Karachi’s extravagant wedding season have turned into gold for the tax authorities, as the Large Taxpayers Unit (LTO) Karachi reported a whopping Rs757 million collection in withholding tax on marriages and social functions during the tax year 2025.
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FBR finalizes arrest procedure for businessmen in sales tax fraud cases
Islamabad – The Federal Board of Revenue (FBR) has finalized a comprehensive procedure for the arrest of businessmen involved in sales tax fraud cases, following the formal nomination of representatives from leading trade organizations across Pakistan.
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FBR issues new procedure for changing NTN or STRN on gas and electricity bills
Islamabad, October 22, 2025 – The Federal Board of Revenue (FBR) has announced a detailed procedure for changing the National Tax Number (NTN) or Sales Tax Registration Number (STRN) on gas and electricity bills of industrial consumers.
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Foreign investors repatriate $752m from Pakistan in Q1FY26
Karachi, October 21, 2025 — Foreign investors have repatriated $752 million in profits and dividends from Pakistan during the first quarter (July–September) of the fiscal year 2025–26, according to the latest official data.
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FBR faces shortage of chartered accountants for third-party tax auditors
Karachi, October 21, 2025 – The Federal Board of Revenue (FBR) has initiated the second phase of hiring third-party tax auditors, but the country currently faces a significant shortage of qualified chartered accountants (CAs) to meet the government’s requirements.
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Pakistan’s foreign direct investment drops 34% in first quarter of FY2025-26: SBP
Karachi, October 20, 2025 – Pakistan recorded a 34% year-on-year decline in foreign direct investment (FDI) during the first quarter (July–September) of fiscal year 2025–26, according to data released by the State Bank of Pakistan (SBP) on Monday.
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FBR dismisses senior auditor over Rs238 billion tax fraud case
Islamabad, October 20, 2025 – The Federal Board of Revenue (FBR) has dismissed a Senior Auditor, Mr. Altaf Hussain Khurho, from service in connection with a Rs238.41 billion tax fraud case, citing gross negligence and inefficiency in investigation.
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Pakistan’s current account deficit widens 18% in first quarter of FY2025-26: SBP
Karachi, October 20, 2025 – Pakistan’s current account deficit (CAD) widened by 18% year-on-year during the first quarter (July–September) of fiscal year 2025–26, according to the latest data released by the State Bank of Pakistan (SBP) on Monday.
As per the Balance of Payments report, the country recorded a current account deficit of $594 million during 1QFY26, compared to a deficit of $502 million in the same quarter last year. The increase reflects a widening gap in the balance of trade despite stronger inflows from workers’ remittances.
The SBP highlighted that the balance on trade in goods registered a deficit of $7.53 billion in the first quarter of FY2025–26, up from $6.84 billion recorded in the corresponding period of FY2024–25.
Similarly, the balance on trade in services also deteriorated slightly, posting a deficit of $931 million compared to $900 million in the previous year’s quarter. This brings the combined deficit in goods and services to $8.46 billion during July–September FY2025–26.
On a positive note, workers’ remittances rose to $9.54 billion in the first quarter of FY2025–26, compared to $8.80 billion during the same period last fiscal year — a 9% year-on-year increase, indicating continued support from overseas Pakistanis.
Economists note that while higher remittances and controlled imports helped contain the deficit, rising global oil prices and import-related pressures continue to weigh on Pakistan’s external account stability.