Islamabad, December 8, 2025 – A wave of confusion spread among return filers on Monday after many taxpayers unexpectedly received SMS reminders urging them to file their income tax returns for Tax Year 2025, despite having already filed before the deadline.
(more…)Author: Shahnawaz Akhter
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Karachi Customs seizes smuggled mobile phones, tampered Prado worth Rs96 million
Karachi, December 7, 2025 – In a major crackdown on smuggling, the Collectorate of Customs Enforcement Karachi has seized 564 high-end smuggled mobile phones along with a tampered Toyota Land Cruiser Prado, valued at a total of Rs96 million. The operation took place near the Karachi–Hyderabad Toll Plaza and was conducted based on precise intelligence.
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FBR issues first-ever customs valuation ruling for aromatic chemicals: VR 2029
Karachi, December 7, 2025 – The Federal Board of Revenue (FBR) has, for the first time, introduced fixed customs values for a range of aromatic chemicals to standardize the assessment of duties and taxes at the import stage.
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FBR Cuts Customs Values of Imported Silicon by Up to 32%
Karachi, December 5, 2025 – The Federal Board of Revenue (FBR) has announced a significant reduction in the customs values of imported silicon in primary form, lowering rates by up to 32% for the calculation of duties and taxes. The move aims to streamline import assessments and provide relief to businesses importing silicon.
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Tax Treatment of Deceased Individuals for Tax Year 2026: What Section 87 Explains
As Pakistan enters tax year 2026 (July 1, 2025 to June 30, 2026), taxpayers and families handling estates are asking a key question: How does the tax law treat individuals who pass away during the tax year?
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Mehmood Bikiya elected president of Karachi Tax Bar Association for 2025-26
Karachi, December 4, 2025 – The Karachi Tax Bar Association (KTBA) has elected Mehmood Bikiya as its president for the 2025-26 term, following the 69th Annual General Meeting held on Thursday.
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Pakistan’s weekly foreign exchange reserves slip by $16 million: SBP
Karachi, December 4, 2025 – Pakistan’s foreign exchange reserves recorded a marginal decline during the week ending November 28, 2025, according to the latest data released by the State Bank of Pakistan (SBP) on Thursday.
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Saudi Arabia extends $3 billion deposit for one year to support Pakistan’s economy
Karachi, December 4, 2025 – In a major development for Pakistan’s financial stability, the State Bank of Pakistan (SBP) announced on Thursday that the Saudi Fund for Development (SFD), on behalf of the Kingdom of Saudi Arabia, has rolled over its existing $3 billion deposit for another year.
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IRSOA welcomes appointment of Zubair Bilal as Member IR Operations
Islamabad, December 4, 2025 – The Inland Revenue Service Officers Association (IRSOA) has warmly welcomed the Federal Board of Revenue’s (FBR) decision to elevate senior Inland Revenue officer Zubair Bilal to the position of Member IR Operations.
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Sindh government releases schedule for Budget 2026-27 presentation
Karachi, December 3, 2025 – The Sindh government has announced the official schedule for presenting the provincial budget for the fiscal year 2026-27, outlining key deadlines for departments and ministries ahead of the budget session.
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