Karachi, June 2, 2025 – The Pakistan Stock Exchange (PSX) witnessed a sharp decline on Monday as mounting concerns over the upcoming fiscal year 2025–26 budget rattled investor sentiment.
(more…)Author: Shahnawaz Akhter
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FY26 Budget Bombshell: Pakistan plans CVT on movable assets
Islamabad, June 2, 2025 – The government of Pakistan is likely to reintroduce Capital Value Tax (CVT) on movable assets in the upcoming federal budget for fiscal year 2025-26. Highly placed sources revealed on Monday that the proposed tax will specifically target the country’s wealthiest individuals, aiming to tap into movable assets such as cash, gold, savings, and investments.
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Faceless Customs: A nightmare for corrupt elements
The launch of Faceless Customs Assessment (FCA) is nothing short of a revolution—one that’s shaking the foundations of the deeply entrenched system of corruption and malpractice in Pakistan’s import-export sector.
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KCCI endorses faceless customs, calls nationwide implementation
Karachi, June 1, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has extended its full support for the Faceless Customs Assessment (FCA) system and has urged the federal government to accelerate its expansion across all ports and customs stations in Pakistan.
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FBR records 168% growth in CGT collection amid PSX boom
Karachi, June 1, 2025 – The Federal Board of Revenue (FBR) has reported an exceptional 168% surge in Capital Gain Tax (CGT) collection from the disposal of securities during the first 10 months (July–April) of the fiscal year 2024–25.
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ICAP recommends WHT on royalty payments to local recipients
Karachi, June 1, 2025 – The Institute of Chartered Accountants of Pakistan (ICAP) has proposed the introduction of a structured withholding tax (WHT) mechanism on royalty payments made to resident individuals and entities.
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Pakistani rupee expected to stay stable ahead of Budget 2025-26
Karachi, June 1, 2025 – The Pakistani rupee is likely to maintain its current stability against the US dollar in the days leading up to the presentation of the Budget 2025-26, which is scheduled for June 10.
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PTBA seeks deadline extension for corporate taxpayer integration
Karachi, May 31, 2025 – The Pakistan Tax Bar Association (PTBA) has formally requested the Federal Board of Revenue (FBR) to extend the deadline for corporate taxpayers to complete their integration with the FBR’s electronic system. The current deadline is set to expire on June 1, 2025.
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Only IMF-approved 2025-26 budget to be presented by Pakistan
Islamabad, May 31, 2025 – Pakistan is set to present its national budget for the fiscal year 2025-26 on June 10, 2025 in strict accordance with the conditions agreed upon with the International Monetary Fund (IMF). This move comes as part of the commitments under the Extended Fund Facility (EFF), which aims to stabilize the country’s economy and ensure long-term fiscal discipline.
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ICAP suggests banking transaction monitoring for tax broadening
Karachi, May 31, 2025 – The Institute of Chartered Accountants of Pakistan (ICAP) has urged the Federal Board of Revenue (FBR) to intensify monitoring of high-value banking transactions as a core strategy for the broadening of the tax base.
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