January 31 was the statutory deadline for the Federal Board of Revenue (FBR) to notify the income tax return forms for Tax Year 2026, but the authority has failed to do so so far, raising concerns over compliance with existing tax laws.
(more…)Author: Shahnawaz Akhter
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FBR shares comprehensive tax reform agenda with FPCCI stakeholders
Karachi – The Federal Board of Revenue (FBR) on Saturday, January 31, 2026, presented its tax reform agenda to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) during a high-level seminar.
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FBR reports Rs7.18 trillion tax collection in first seven months of FY26
Islamabad, January 31, 2026 — The Federal Board of Revenue (FBR) on Saturday announced that tax collection reached Rs7.18 trillion during the first seven months (July–January) of the ongoing fiscal year 2025-26, reflecting a strong growth trajectory supported by reform-driven measures.
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Rice exporters applaud PM Shehbaz for announcing relief package
Karachi, January 31, 2026 – The Rice Exporters Association of Pakistan (REAP) has strongly welcomed Prime Minister Shehbaz Sharif’s recently announced relief and reform package, terming it a timely and much-needed boost for exporters and the industrial sector.
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SBP instructs banks to support FBR tax collection on January 31
Karachi, January 30, 2026 — The State Bank of Pakistan (SBP) on Friday directed all commercial banks to facilitate tax collection by the Federal Board of Revenue (FBR) by observing extended working hours on Saturday, January 31, 2026.
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Clearance for Exportation Under Customs Act, 1969 (Updated 2026)
Export clearance is a critical compliance step in Pakistan’s international trade regime. Section 131 of the Customs Act, 1969, as applicable for tax year 2026, lays down the mandatory legal requirements that must be fulfilled before any goods are allowed to be loaded for exportation.
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Transit of Goods Under Pakistan Customs Act, 1969 (Updated 2026)
Pakistan’s strategic location makes it a vital transit corridor for regional and international trade. The Customs Act, 1969, through Sections 127 to 129A, provides a comprehensive legal framework governing the transit of goods within Pakistan and across Pakistan to foreign destinations, while ensuring revenue protection and regulatory control.
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What Is Transshipment of Goods Under the Customs Act, 1969? (Updated 2026)
Transshipment plays a critical role in Pakistan’s import–export and transit trade framework. Under Section 121 of the Customs Act, 1969, transshipment allows goods to move from one customs station to another—or onward to a foreign destination—without immediate payment of customs duty, subject to specific legal conditions.
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FBR launches super tax recovery after apex court ruling, targets Rs200 billion
Islamabad, January 30, 2026: The Federal Board of Revenue (FBR) has initiated recovery of Super Tax from taxpayers following the landmark judgment of the Federal Constitutional Court. Field formations of the FBR began issuing notices on Thursday for outstanding Super Tax payments exceeding Rs200 billion.
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FBR’s limiting refund adjustment amount declared unlawful by FTO
Islamabad, January 30, 2026 — The Federal Tax Ombudsman (FTO) has ruled that the Federal Board of Revenue’s (FBR) practice of limiting the adjustment of income tax refunds against a taxpayer’s liability is unlawful and amounts to maladministration
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