Islamabad, June 7, 2025 – The Federal Board of Revenue (FBR) has imposed the penalty of censure on a customs appraising officer after an inquiry found him guilty of inefficiency during an official examination process.
(more…)Author: Shahnawaz Akhter
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LTO Karachi poised to smash Rs3 trillion barrier first-time
KARACHI – June 6, 2025: In a historic and electrifying milestone, the Large Taxpayers Office (LTO) Karachi is poised to smash through the Rs3 trillion barrier in revenue collection for the very first time in Pakistan’s tax history.
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KSE-100 Index posts 1.63% weekly gain ahead of budget 2025-26
Karachi, June 6, 2025 – The Pakistan Stock Exchange (PSX) concluded the pre-Eid trading week on a high note, with the benchmark KSE-100 index registering a notable 1.63% weekly gain ahead of the federal budget for 2025–26, scheduled to be presented on June 10.
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Pakistan’s corporate tax burden highest in Asian region: KTBA
Karachi, June 6, 2025 – The Karachi Tax Bar Association (KTBA) has called on the federal government to lower Pakistan’s corporate tax rate, highlighting that it is currently the highest in Asia.
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Unbelievable Yet True: K-Electric clinches massive Rs50bn write-off
In a move that has sent shockwaves across the country’s power sector, the National Electric Power Regulatory Authority (NEPRA) has granted K-Electric a jaw-dropping Rs50 billion write-off—a concession so colossal that only K-Electric could pull it off in Pakistan.
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FBR considers GST on cross-border online sales in FY26 Budget
ISLAMABAD, June 6, 2025 – The Federal Board of Revenue (FBR) is actively exploring the imposition of General Sales Tax (GST) on cross-border online sales as part of the upcoming budget for 2025–26.
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Pakistan’s forex reserves decline slightly to $16.598 billion: SBP
Karachi, June 5, 2025 – Pakistan’s total foreign exchange (forex) reserves declined modestly to $16.598 billion for the week ending May 30, 2025, according to the latest data released by the State Bank of Pakistan (SBP) on Thursday.
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ICMAP summarizes tax suggestions for June 10 Budget 2025–26
Karachi, June 5, 2025 – With the Federal Budget 2025–26 set to be unveiled on June 10, the Institute of Cost and Management Accountants of Pakistan (ICMAP) has reiterated its detailed tax policy proposals submitted earlier to the Federal Board of Revenue (FBR).
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FBR rejects all leave requests ahead of FY26 Budget presentation
Islamabad, June 5, 2025 – The Federal Board of Revenue (FBR) has issued strict directives rejecting all leave applications submitted by officials of the Inland Revenue Service (IRS), as the government prepares to present the federal budget for the fiscal year 2025-26.
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FBR recovers over Rs5 billion in major tax case against K-Electric
Karachi, June 5, 2025 – The Federal Board of Revenue (FBR) has successfully recovered over Rs5 billion from K-Electric, following a major court ruling on a long-standing tax dispute. This recovery comes after a legal battle over the application of minimum tax provisions under Section 113 of the Income Tax Ordinance, 2001.
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