Karachi, September 17, 2025 – The State Bank of Pakistan (SBP) has issued a directive making it mandatory for commercial banks to establish Electronic Data Interchange (EDI) with the Pakistan Single Window (PSW).
(more…)Author: Shahnawaz Akhter
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FBR allows Zakat as deductible allowance for tax year 2025-26
Islamabad, September 17, 2025 – The Federal Board of Revenue (FBR) has announced that Zakat will continue to be treated as a deductible allowance for taxpayers during the tax year 2025-26.
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Tax Year 2025-26: sales tax penalty for obstructing FBR officials
Islamabad, September 17, 2025 – The Federal Board of Revenue (FBR) has announced strict measures under the Sales Tax Act, 1990, by introducing a defined penalty for individuals or businesses that obstruct tax officials in the course of their duties.
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FBR sets penalties for non-compliance in sales tax record sharing
Karachi, September 17, 2025 – The Federal Board of Revenue (FBR) has formally announced a new structure of monetary penalties aimed at taxpayers who refuse to provide sales tax records when required by law.
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FBR releases details of sales tax exemptions across sectors
Islamabad, September 17, 2025 – Pakistan’s sales tax expenditure for the fiscal year 2023-24 has been estimated at Rs. 1,237.11 billion, reflecting a notable decline of 18.61% compared to the previous fiscal year, according to data released by Federal Board of Revenue (FBR).
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LTBA seeks extension in deadline for FBR integration
Lahore – The Lahore Tax Bar Association (LTBA) has once again appealed to the Federal Board of Revenue (FBR) to extend the deadline for integration of registered taxpayers with FBR’s computerized system.
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Return Filing 2025: ILA Flags Malfunctioning of IRIS Portal
Islamabad, September 16, 2025 – The International Lawyers Association (ILA) has raised serious concerns over the persistent malfunctioning of the IRIS portal, the official online return filing system of the Federal Board of Revenue (FBR).
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FBR notifies withholding tax rates on property transfer for 2025-26
Islamabad, September 16, 2025 – The Federal Board of Revenue (FBR) has officially notified the applicable withholding tax rates on the transfer of immovable property for the tax year 2025-26.
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K-Electric board to review pending financial statements
Karachi, September 16, 2025 – The board of directors of K-Electric has announced that it will convene on September 23, 2025, to finalize long-pending financial statements for various periods ending June 30, 2024.
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Group Relief Under Income Tax Laws for Tax Year 2025-26
Islamabad, September 16, 2025 – The Federal Board of Revenue (FBR) has provided detailed guidelines on group relief under Section 59B of the Income Tax Ordinance, 2001, for the tax year 2025-26.
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