Islamabad, December 12, 2025 – The Federal Board of Revenue (FBR) has introduced significant amendments to the Income Tax Rules, 2002, aimed at streamlining the process of recognizing active taxpayers belonging to Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan (GB). The draft amendments were issued through SRO 2423(I)/2025 on December 11, 2025.
(more…)Author: Shahnawaz Akhter
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Tax hike alert: Pakistan assures IMF of new measures to address revenue shortfall
Islamabad, December 12, 2025 – Pakistan has assured the International Monetary Fund (IMF) that it will introduce new tax measures if revenues fall short during the fiscal year 2025–26. The commitment was outlined in the Letter of Intent (LoI) signed by Finance Minister Muhammad Aurangzeb and State Bank of Pakistan Governor Jameel Ahmad, included in the IMF’s latest country report released on December 11.
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FBR to launch digital tax operations training for nearly 1,100 Officers
Islamabad, December 11, 2025: The Federal Board of Revenue (FBR) is preparing to launch an extensive training program aimed at equipping its officers with advanced skills in digital tax operations, data analytics, and modern compliance systems.
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Pakistan receives $1.2 billion from IMF: SBP
Karachi, December 11, 2025: The State Bank of Pakistan (SBP) has received approximately $1.2 billion from the International Monetary Fund (IMF) under its Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) programs, the central bank said on Thursday.
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KCCI urges SBP to cut policy rate by 1% as inflation softens
Karachi, December 10, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has called on the State Bank of Pakistan (SBP) to lower the benchmark policy rate by 1 percentage point, citing a noticeable decline in inflation and improved macroeconomic conditions.
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FBR introduces new valuation method for steel products to collect sales tax
Karachi, December 10, 2025 – The Federal Board of Revenue (FBR) has announced a revised valuation mechanism for steel products to streamline and enhance sales tax collection across the steel sector. The updated valuation method was formally notified through SRO 2402(I)/2025, issued on Wednesday.
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LTO Karachi begins monitoring foreign assets of high net-worth individuals
Karachi, December 10, 2025 – The Large Taxpayers Office (LTO) Karachi has initiated the assessment and monitoring of foreign assets belonging to several high net-worth individuals, following directives issued by the Federal Board of Revenue (FBR).
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FBR sets December 31 deadline for corporate return filing for tax year 2025
Karachi, December 10, 2025 – The Federal Board of Revenue (FBR) has officially announced December 31, 2025 as the last date for corporate entities to file their annual income tax returns for Tax Year 2025. The tax authority has reminded companies to ensure timely filing in compliance with the Income Tax Ordinance, 2001.
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FBR clarifies tax treatment of gains on disposal of assets outside Pakistan
Islamabad, December 10, 2025 – The Federal Board of Revenue (FBR) has provided detailed guidance on the tax treatment of gains from disposal of assets outside Pakistan under Section 101A of the Income Tax Ordinance, 2001.
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FBR explains geographical source of income for tax year 2026
Islamabad, December 10, 2025 – The Federal Board of Revenue (FBR) has provided a comprehensive explanation on what constitutes Pakistan-source income for Tax Year 2026 under Section 101 of the Income Tax Ordinance, 2001.
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