Karachi, May 28, 2025 – In a powerful push for fiscal reform, the Institute of Chartered Accountants of Pakistan (ICAP) has proposed the introduction of a fully automated tax refund credit system in the federal budget for 2025-26.
(more…)Author: Shahnawaz Akhter
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World Bank urges Pakistan: scrap regulatory duty, ACD fast
ISLAMABAD – In a landmark recommendation, the World Bank has urged Pakistan to fully phase out regulatory duties (RDs) and Additional Customs Duties (ACDs), as part of a comprehensive tariff reform agenda aimed at reviving the country’s struggling export sector.
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Luxury car owners panic as FBR plans tax hike in FY26 budget
ISLAMABAD, May 28, 2025 — In a bold and controversial move, the Federal Board of Revenue (FBR) is gearing up to slap luxury cars with significantly higher withholding taxes in the upcoming FY26 federal budget — a decision that could shake Pakistan’s elite automotive market.
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UNISAME wants bold slash in income tax rates for struggling SMEs
KARACHI, May 28, 2025 — In a powerful and urgent appeal, the Union of Small and Medium Enterprises (UNISAME) has issued a clarion call to the government of Pakistan: slash the crushing income tax burden on SMEs or risk economic stagnation and collapse of this vital sector.
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WHO warns Pakistan: raise tobacco tax or face disaster
Islamabad, May 27, 2025 – In a powerful and urgent appeal, the World Health Organization (WHO) has issued a dire warning to Pakistan: raise tobacco tax now or brace for even more staggering human and economic losses.
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FBR notifies CCF rules to strengthen anti-smuggling operations
Islamabad, May 27, 2025 – In a major development aimed at bolstering anti-smuggling efforts, the Federal Board of Revenue (FBR) has officially notified the Customs Command Fund (CCF) Rules, 2025 to formalize and regulate the operational expenditures of Customs enforcement agencies.
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KSE-100 index adds 112 points amid pre-budget jitters
Karachi, May 27, 2025 — The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) recorded a modest gain of 112 points on Tuesday, closing at 118,333 points, up from the previous day’s close of 118,221 points.
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SAI submits comprehensive tax proposals for budget 2025-26
Karachi, May 27, 2025 – The Site Association of Industry (SAI) has submitted detailed tax proposals for the upcoming Federal Budget 2025–26, calling for sweeping reforms to support industrial growth, broaden the tax base, and promote export competitiveness.
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Railways key to easing Karachi’s cargo pressure, says DS
Karachi, May 27, 2025 – Divisional Superintendent (DS) Pakistan Railways, Mehmood ur Rehman Lakho, has stressed the urgent need to shift cargo movement from roads to railways to ease Karachi’s growing transportation burden.
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Experts explode over salary tax: gross deductions outrage
Karachi, May 27, 2025 – A storm is brewing in the tax landscape as experts sound the alarm over what they describe as an unjust policy of taxing salary on the gross amount—not the net take-home pay—causing financial strain across Pakistan’s salaried class.
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