Karachi, December 19, 2025 — The Large Taxpayers Office (LTO) Karachi has reported a remarkable 475 percent increase in the collection of capital gains tax (CGT) on the disposal of securities during the first five months of the current fiscal year 2025–26, reflecting the strong performance of the Pakistan Stock Exchange (PSX).
(more…)Author: Shahnawaz Akhter
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Provisional Tax Assessment in Pakistan: What You Should Know
The Federal Board of Revenue (FBR) holds wide-ranging powers under the Income Tax Ordinance, 2001 to safeguard revenue and address tax evasion. One such important mechanism is the provisional tax assessment, which allows tax authorities to assess income in specific high-risk situations even before a final assessment is issued.
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Why Taxpayers Must Understand the Role of FBR’s Commissioner (Appeals)
For taxpayers in Pakistan, understanding the role of the Commissioner (Appeals) is crucial. This office serves as the first stage of relief when a taxpayer disagrees with an order or decision by the Federal Board of Revenue (FBR). Knowing how to navigate this process can save time, money, and stress in resolving tax disputes.
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LTO Karachi achieves record Rs1.27 trillion tax collection in 5MFY26
Karachi, December 19, 2025 – The Large Taxpayers Office (LTO) Karachi has accomplished an unprecedented milestone, amassing Rs1.27 trillion in tax revenue during the first five months (July–November) of fiscal year 2025-26, underscoring robust revenue mobilization efforts.
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November decline reduces Pakistan’s textile exports growth to 2.73% in 5MFY26
Islamabad, December 19, 2025 – Pakistan’s textile exports growth slowed significantly in November 2025, bringing the overall increase for the first five months (July to November) of the current fiscal year 2025-26 to 2.73%, according to the latest data released by the Pakistan Bureau of Statistics (PBS).
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Are you a 2025 return filer? You must know how FBR assesses your return
If you have filed your income tax return for tax year 2025, understanding how the Federal Board of Revenue (FBR) assesses your declaration is crucial. Many taxpayers believe filing a return ends their responsibility—but under Pakistan’s tax law, filing is only the beginning of the assessment process.
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Who is required to file a foreign income and assets statement in Pakistan?
If you are a resident taxpayer in Pakistan with overseas income or assets, filing a foreign income and assets statement is not optional—it is a legal obligation under the Income Tax Ordinance, 2001. Failure to comply can trigger enforcement action by the Federal Board of Revenue (FBR), especially from tax year 2026 onward.
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Your wealth statement must contain these details to avoid FBR action
Filing an accurate wealth statement is not just a formality—it is a legal requirement that can protect you from scrutiny, penalties, and enforcement action by the Federal Board of Revenue (FBR). Under the Income Tax Ordinance, 2001, the FBR has clearly defined what a valid wealth statement must include for each tax year.
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Business community demands waiver of demurrage, detention charges after strike
Karachi, December 18, 2025 – The business community of Karachi has urged the federal government to waive demurrage and detention charges accrued during the recent nationwide goods transporters’ strike that lasted from December 8 to 17, 2025. The strike brought cargo movement at Karachi Port, Port Qasim, and associated terminals to a near-complete halt, leaving import and export consignments stranded and imposing heavy financial burdens on traders and industrialists.
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Pakistan sees 25% drop in foreign direct investment in 5MFY26
Karachi, December 18, 2025 – Pakistan has reported a significant 25% decline in foreign direct investment (FDI) during the first five months of fiscal year 2025-26, according to the State Bank of Pakistan (SBP).
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