Karachi, January 29, 2025 – The Federal Board of Revenue (FBR) has formally explained the procedural framework for conducting electronic audits (e-audits) of taxpayers under the Sales Tax Act, 1990. This initiative aims to streamline the audit process, enhance transparency, and minimize physical interaction between taxpayers and tax authorities.
(more…)Author: Shahnawaz Akhter
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FBR Collects IR Officials’ Data for Rightsizing Initiative
Karachi, January 28, 2025 – The Federal Board of Revenue (FBR) has initiated a comprehensive data collection process for officials serving in the Inland Revenue (IR) department. This move aims to compile and submit detailed records to the high-powered committee overseeing the rightsizing of the federal government.
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KSE-100 Sheds 1,490 Points Amid Weak Corporate Results
Karachi, January 28, 2025 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) faced a sharp decline on Tuesday, losing 1,490 points amid weaker-than-expected corporate results and persistent negative sentiment. The KSE-100 index closed at 112,030 points, significantly down from the previous day’s closing of 113,520 points.
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SBP Awards First Digital Retail Bank License to Easypaisa Bank
Karachi, January 28, 2025 – The State Bank of Pakistan (SBP), led by Governor Jameel Ahmad, has awarded the country’s first-ever Digital Retail Bank (DRB) license to Easypaisa Bank Limited, formerly known as Telenor Microfinance Bank Limited.
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Minister Aurangzeb Announces Major Shift in Tax Policy Control
Islamabad, January 28, 2025 – Finance Finance Minister Muhammad Aurangzeb on Tuesday announced a significant administrative shift aimed at streamlining tax administration and boosting revenue collection in Pakistan.
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Pakistan on Path to Greater Economic Stability: 1H FY25 Report
Islamabad, January 28, 2025 – On Tuesday, the Ministry of Finance released its half-yearly report for the fiscal year 2024-25 (July-December), presenting an optimistic outlook for Pakistan economy.
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Karachi Tax Bar Highlights Challenges in Property Valuation
Karachi, January 28, 2025 – The Karachi Tax Bar Association (KTBA) has raised serious concerns regarding the fair market value (FMV) assessment of multi-storied built-up properties in Karachi.
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How FBR Selects Cases for Sales Tax Audit
Islamabad, January 28, 2025 – The Federal Board of Revenue (FBR) has officially issued the criteria for selecting cases for audit under the Sales Tax laws. These guidelines are outlined in Rule 44A of the Sales Tax Rules, 2006, which details the methodology and procedures for audit selection and conduct.
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PTBA Focuses Digitalization in Tax Proposals for Budget 2025-26
Karachi, January 28, 2025 – The Pakistan Tax Bar Association (PTBA) has presented its comprehensive tax proposals for the federal budget 2025-26, emphasizing the need for digitalization across all stages of economic activity.
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New Currency Notes Printing to Begin in FY26: SBP
Karachi, January 27, 2025 – The State Bank of Pakistan (SBP) has announced its plan to initiate the printing of new currency notes featuring advanced security enhancements in the upcoming fiscal year, 2025-26.
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