KARACHI, May 27, 2025 — The tax authorities in Karachi have reported a stunning 144% increase in tax collection from new car purchases during the first ten months (July–April) of fiscal year 2024–25, driven by a sharp rise in the sale of high-end vehicles across Pakistan.
(more…)Author: Shahnawaz Akhter
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ICAP battles brutal inflation with bold salary tax plan
KARACHI, May 27, 2025 — In a bold and potentially game-changing proposal ahead of the 2025-26 federal budget, the Institute of Chartered Accountants of Pakistan (ICAP) has roared into the spotlight by demanding immediate and sweeping relief for Pakistan’s long-suffering salaried class.
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ICAP seeks end to withholding tax for listed companies
Karachi, May 26, 2025 – The Institute of Chartered Accountants of Pakistan (ICAP) has put forward a significant reform proposal in its recommendations for the Federal Budget 2025-26.
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K-Electric secures dollar-based tariff for seven years
Karachi, May 26, 2025 – In a significant regulatory development, K-Electric (KEL) has successfully secured a dollar-based tariff structure for its transmission and distribution operations, following a similar arrangement granted earlier for its power generation segment.
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OICCI highlights tax issues in tobacco sector, seeks urgent relief
Karachi, May 25, 2025 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has raised serious concerns over the alarming rise in illicit trade within Pakistan’s tobacco sector, urging the government to provide immediate tax relief and regulatory support to protect legitimate businesses.
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IMF imposes stringent exchange rate reporting conditions on SBP
Karachi, May 25, 2025 – The International Monetary Fund (IMF) has imposed rigorous new conditions on the State Bank of Pakistan (SBP) regarding the provision of foreign exchange data, as part of Pakistan’s commitments under the Extended Fund Facility (EFF).
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April profit tax crashes 37% despite record-breaking bank deposits
Karachi, May 25, 2025 – In a surprising twist that’s left tax experts baffled, income tax collection from profit on bank deposits plunged by a staggering 37% in April 2025, compared to the same month last year—even as bank deposits soared to historic highs, crossing the Rs32 trillion mark for the first time in Pakistan’s financial history.
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Rupee likely to face pressure against dollar ahead of FY26 budget
Karachi, May 25, 2025 – The Pakistani rupee is expected to come under renewed pressure against the US dollar in the days leading up to the federal budget for fiscal year 2025-26, set to be announced on June 10, 2025.
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FY26 Budget Preview: harsh tax measures with targeted relief
Arif Habib Limited has released its detailed preview of Pakistan’s Federal Budget for FY2025-26, indicating a mix of strict tax measures alongside carefully targeted relief.
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FBR launches massive audit blitz targeting Karachi taxpayers
KARACHI, May 25, 2025 — In a bold and sweeping move, the Federal Board of Revenue (FBR) has turned up the heat on Karachi’s taxpayers, launching one of the most aggressive audit campaigns in recent memory.
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