The Senate has initiated a formal inquiry into alleged corruption within the Federal Board of Revenue (FBR), directing the tax authority to submit comprehensive details of complaints received against its officials since July 2023.
(more…)Author: Shahnawaz Akhter
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Pakistan customs seizes $132 million worth of contraband near Gadani
Karachi, December 13, 2025 — Pakistan Customs, in coordination with the Pakistan Navy and the Pakistan Maritime Security Agency (PMSA), has thwarted a major smuggling operation near Gadani, Balochistan, resulting in the confiscation of contraband valued at approximately $132 million, equivalent to around Rs37 billion in the international market.
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REAP warns of major rice export losses amid transporters’ strike
Karachi, December 13, 2025 — The Rice Exporters Association of Pakistan (REAP) has raised serious concerns over substantial losses to the country’s rice exports as the ongoing transporters’ strike continues to paralyze cargo movement nationwide.
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FBR uncovers Rs19 billion potential tax evasion in tobacco sector
Islamabad, December 13, 2025 — Pakistan is grappling with a growing challenge of illicit trade in the tobacco sector, which continues to undermine the national economy and cause heavy losses to the public exchequer. The unchecked movement, storage, and use of non-duty-paid unmanufactured tobacco— the primary raw material for cigarette production— has emerged as a major source of large-scale evasion of Federal Excise Duty (FED) and other applicable taxes.
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What Is a Controlled Foreign Company (CFC) Under Income Tax Ordinance, 2001?
Updated for Tax Year 2026: Pakistan has strengthened its international tax framework by introducing Controlled Foreign Company (CFC) rules under Section 109A of the Income Tax Ordinance, 2001.
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SBP likely to maintain policy rate at 11% in December 15 meeting
Karachi, December 13, 2025 – The State Bank of Pakistan (SBP) is expected to maintain its benchmark policy rate at 11% in the upcoming monetary policy review scheduled for December 15, 2025.
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Goods transport strike threatens Pakistan’s trade as KCCI, SAI sound alarm
KARACHI, December 12, 2025 — Leading trade and industrial bodies have issued urgent warnings as the nationwide strike by goods transporters enters another day, halting cargo movement across Pakistan and triggering what they describe as an approaching “full-scale economic emergency”.
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PSX hits new record high, KSE-100 Index approaches 170,000 points
Karachi, December 12, 2025 – The Pakistan Stock Exchange (PSX) achieved a new all-time high on Friday, with its benchmark KSE-100 index closing near the 170,000-point mark amid positive investor sentiment and robust trading activity.
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Pakistan faces new structural benchmarks for IMF loan compliance
Islamabad, December 12, 2025 – Pakistan has been set 11 new structural benchmarks (SBs) by the International Monetary Fund (IMF) as part of the ongoing Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) programs.
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Taxation Principles for Permanent Establishments in Pakistan: Non-Residents Tax Year 2026
Islamabad, December 12, 2025 – The Federal Board of Revenue (FBR) has clarified the principles of taxation for permanent establishments (PEs) of non-resident persons operating in Pakistan under Section 105 of the Income Tax Ordinance, 2001 for the tax year 2026.
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