As the countdown to the federal Budget 2025–26 begins, the future of the controversial super tax hangs in the balance.
(more…)Author: Shahnawaz Akhter
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Parliamentarians urge tobacco tax hike to protect public health
A strong collective voice from parliamentarians, public health experts, and civil society leaders has called for a significant increase in tobacco taxation in Pakistan.
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Utopia battles one-year tax refund delay from FBR
Islamabad, May 29, 2025 – The Federal Board of Revenue (FBR) has withheld both sales tax and income tax refunds claimed by Utopia Industries for over a year, causing serious financial strain on one of Pakistan’s top export companies.
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Pakistan projects inflation uptick despite positive outlook
Islamabad, May 29, 2025 – The finance ministry of Pakistan has projected a potential increase in inflation in the coming months, despite notable economic gains and macroeconomic stabilization. In its Monthly Economic Outlook for May 2025, released on Thursday, the ministry highlighted that while inflation remained subdued during recent months, rising domestic demand could push prices upward by June.
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Pakistan’s weekly forex reserves stand at $16.637 billion: SBP
Karachi, May 29, 2025 – Pakistan’s total net foreign exchange (forex) reserves recorded a slight decrease during the week ended May 23, 2025, according to the latest data released by the State Bank of Pakistan (SBP). The net forex reserves fell by $12 million, settling at $16.637 billion, compared to $16.647 billion reported a week earlier, on May 16, 2025.
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Budget 2025-26 eyes revenue with tough new measures
Karachi, May 29, 2025 — As the countdown begins for the presentation of Budget 2025-26 on June 10, economic analysts anticipate a challenging fiscal blueprint aimed at aggressive revenue mobilization amid low inflation and sluggish GDP growth.
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FBR imposes major penalty on four customs officials for negligence
Islamabad, May 26, 2025 — The Federal Board of Revenue (FBR) has concluded disciplinary proceedings against four officials from the Collectorate of Customs Sambrial, Sialkot, in a high-profile misdeclaration case involving import transshipment TP No. KPPO-TP-24787 dated November 6, 2024.
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KTBA pushes for zero-rated sales tax on NPOs in budget 2025–26
Karachi, May 29, 2025 – In a major policy recommendation ahead of the upcoming federal budget, the Karachi Tax Bar Association (KTBA) has called on the government to introduce zero-rated sales tax for all Non-Profit Organizations (NPOs), particularly those engaged in critical public welfare services like healthcare and education.
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ICAP demands ironclad customs to defend CPEC integrity
Karachi, May 29, 2025 — The Institute of Chartered Accountants of Pakistan (ICAP) has presented a comprehensive set of proposals for the upcoming federal budget 2025–26 aimed at eliminating smuggling and illegal trade along the China-Pakistan Economic Corridor (CPEC).
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FCA crumbles under scrutiny, customs committee sounds alarm
Karachi, May 28, 2025 – In a dramatic turn of events, a key committee within Pakistan Customs has delivered a stunning blow to the controversial Faceless Customs Assessment (FCA) system, declaring it a failure and recommending its immediate suspension.
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