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.
(more…)Author: Shahnawaz Akhter
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Engro Fertilizers announces unscheduled shutdown of EnVen plant
Karachi, June 5, 2025 – Engro Fertilizers Limited, one of Pakistan’s leading fertilizer manufacturers, has announced an unscheduled shutdown of its EnVen plant due to maintenance requirements.
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FBR shares key tax operations data with IMF under EFF monitoring
Islamabad, June 4, 2025 – The Federal Board of Revenue (FBR) continues to provide detailed data on tax operations to the International Monetary Fund (IMF) as part of ongoing commitments under the Extended Fund Facility (EFF).
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New framework proposed to tax digital platforms in Pakistan
Islamabad, June 4, 2025 – A new framework has been put forward to bring digital platforms in Pakistan under the tax net. This proposal, presented by the Institute of Chartered Accountants of Pakistan (ICAP), is part of the country’s upcoming 2025–26 budget suggestions.
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Pakistan reports 26% YoY surge in trade deficit in May 2025
Islamabad, June 4, 2025 – Pakistan has reported that trade deficit rose sharply by 26% year-on-year in May 2025, mainly due to a notable decline in exports.
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Confusion over stock declaration halts sales tax filing: PCDMA
Karachi, June 4, 2025 – The Pakistan Chemical and Dyes Merchants Association (PCDMA) has raised serious concerns about difficulties faced by traders in filing their sales tax returns, following a new requirement introduced by the Federal Board of Revenue (FBR).
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KSE-100 Index continues rally, reaches new high of 121,799 points
Karachi, June 4, 2025 – The Pakistan Stock Exchange (PSX) witnessed another strong session on Wednesday, as the benchmark KSE-100 Index continued its upward trajectory and closed at a new all-time high of 121,799 points.
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Businessmen slam proposal to impose CVT on movable assets
Karachi, June 4, 2025 – The business community across Pakistan has issued a strong and united condemnation of the government’s reported plan to impose Capital Value Tax (CVT) on a broad range of movable assets in the upcoming Federal Budget 2025-26.
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KCCI urges reduction in gas prices to safeguard industrial sector
Karachi, June 4, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the government to immediately reconsider and reduce gas prices in order to safeguard the country’s struggling industrial sector and support sustainable economic growth.
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Thousands jobless as Utility Stores restructuring accelerates rapidly
ISLAMABAD: The government has closed down 1,925 loss-making Utility Stores across Pakistan, resulting in the termination of 4,060 employees. This move is part of a major restructuring plan for the Utility Stores Corporation (USC) aimed at cutting costs and preparing the organization for privatization.
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