Islamabad, February 10, 2025 – The Federal Board of Revenue (FBR) has announced a record-breaking 6.26 million active taxpayers ahead of the implementation of stringent measures aimed at curbing tax evasion.
(more…)Author: Shahnawaz Akhter
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Government Pays Massive Rs 5.14 Trillion as Mark-Up in 1HFY25
Karachi, February 10, 2025 – The government of Pakistan has disbursed a staggering Rs 5.14 trillion as mark-up on loans acquired from both local and international financial institutions during the first half (July-December) of the ongoing fiscal year 2024-25.
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Tax Package for Real Estate Unlikely Before Budget 2025-26
Islamabad, February 9, 2025 – The government is unlikely to introduce any tax package for the real estate sector before the presentation of the budget for the fiscal year 2025-26.
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Petroleum Levy Collection Surges to Rs 549 Billion in 1HFY25
Karachi, February 9, 2025 – The collection of petroleum levy has witnessed a substantial increase, reaching Rs 549 billion during the first half (July – December) of the current fiscal year, according to data released by the Ministry of Finance.
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SAI Urges Pakistan to Capitalize on US Tax Measures
Karachi, February 8, 2025 – The Site Association of Industry (SAI) has advised the Pakistan government to take advantage of recent tax measures introduced by the United States against various countries.
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Pakistan’s Budget Deficit Contracts to 1.2% in First Half of FY25
Karachi, February 8, 2025 – Pakistan has reported a notable reduction in its budget deficit, which contracted to 1.2% of Gross Domestic Product (GDP) in the first half (July-December) of the fiscal year 2024-25. This marks a significant improvement from the 2.3% budget deficit recorded during the corresponding period of the previous fiscal year.
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KTBA Urges FBR to Delay SRO 55 Compliance for Two Months
Karachi, February 8, 2025 – The Karachi Tax Bar Association (KTBA) has called on the Federal Board of Revenue (FBR) to defer the implementation of SRO 55(I)/2025, which introduces key modifications to sales tax return filing.
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NA Set to Approve Tax Bill to Restrict Transactions by Non-Filers
Islamabad, February 7, 2025 – The National Assembly is poised to approve the Tax Amendment Bill in its upcoming session, which aims to impose strict restrictions on non-filers of income tax returns, preventing them from engaging in various financial transactions.
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Major FBR Shakeup: Ahmad Shuja Becomes Member Audit
Islamabad, February 7, 2025 – The Federal Board of Revenue (FBR) has undertaken a significant administrative reshuffle, transferring several senior Inland Revenue Service (IRS) officers to key positions.
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KSE-100 Rebounds After Three-Day Losing Streak
Karachi, February 7, 2025 – The KSE-100 index of the Pakistan Stock Exchange (PSX) rebounded on Friday, posting a modest gain of 22 points following three consecutive sessions of decline.
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