Karachi, May 21, 2025 – The Large Taxpayers Office (LTO) Karachi has once again demonstrated its exceptional prowess in revenue mobilization by amassing an unprecedented Rs2.56 trillion in tax collections during the first ten months (July to April) of the fiscal year 2024-25.
(more…)Author: Shahnawaz Akhter
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FBR boots corrupt officer over weapons, smuggling, luxury assets
ISLAMABAD, May 21, 2025 – In a shocking move that has rattled the corridors of Pakistan’s civil service, the Federal Board of Revenue (FBR) has officially dismissed Inspector Customs Syed Momin Hussain Shah from service, following a sensational corruption scandal involving illegal weapons, smuggling, and undeclared luxury assets worth Rs150 million.
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KCCI advocates restoration of zero-rated sales tax under EFS
Karachi, May 21, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has strongly called for the restoration of zero-rated sales tax under the Export Facilitation Scheme (EFS) to support the local textile industry, particularly for the procurement of raw materials and yarn.
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MTO Karachi, ABAD discuss tax issues in construction sector
Karachi – In a significant move to address long-standing tax concerns within Pakistan’s construction sector, the Medium Taxpayers Office (MTO) Karachi and the Association of Builders and Developers of Pakistan (ABAD) held a comprehensive dialogue on Tuesday.
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Oil refineries applaud resolution of sales tax dispute
ISLAMABAD – The chief executive officers (CEOs) of Pakistan’s leading oil refineries expressed their appreciation to the federal government for resolving the long-standing sales tax issue that had been hampering growth and stability in the refining and oil marketing sectors.
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FBR issues SOP to boost tax assessment order quality
Islamabad, May 20, 2025 – The Federal Board of Revenue (FBR) has issued a comprehensive Standard Operating Procedure (SOP) aimed at strengthening the quality and accuracy of tax assessment orders across the country.
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PSX sheds 719 points amid highly volatile session on May 20, 2025
Karachi, May 20, 2025 – The Pakistan Stock Exchange (PSX) witnessed a sharp downturn on Tuesday, losing 719 points amid a volatile trading session marked by profit-taking and a lack of market-moving catalysts.
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P@SHA urges tax exemption on debit card transactions in budget
Karachi, May 20, 2025 — The Pakistan Software Houses Association (P@SHA) has strongly recommended that the government exempt debit card transactions from withholding tax in the upcoming 2025-26 federal budget.
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FPCCI explodes over tax ordinance, demands power reversal
Karachi, May 20, 2025 — The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has come out forcefully against the Tax Laws (Amendment) Ordinance, 2025, condemning the federal government’s decision to grant sweeping powers to tax officials to freeze bank accounts and withdraw funds without due process.
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SBP launches cashless drive for Eid cattle markets
Karachi, May 20, 2025 – The State Bank of Pakistan (SBP) has officially launched a comprehensive nationwide campaign titled “Go Cashless” aimed at promoting digital payments and significantly reducing reliance on cash transactions during the upcoming Eid-ul-Azha festivities.
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