Pakistan Revenue
Karachi, January 26, 2026 – In a bold move signaling zero tolerance for tax evasion, the Large Taxpayers Office (LTO) Karachi has empowered its officials to spearhead an aggressive tax enforcement drive targeting banks and financial institutions.
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Karachi, January 26, 2026 – The State Bank of Pakistan (SBP) on Monday decided to maintain the policy rate at 10.5%, citing concerns over rising inflation and a widening trade deficit.
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Islamabad, January 26, 2026 — The Federal Board of Revenue (FBR) on Monday issued strict instructions barring Customs officers and officials from using social media platforms without obtaining prior approval from the competent authority.
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Karachi, January 26, 2026: Sentiments are running high as Pakistan awaits the Monetary Policy Committee (MPC) meeting of the State Bank of Pakistan (SBP) today. Market participants and analysts are closely monitoring expectations for a potential benchmark interest rate cut.
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Importers often discover—sometimes months later—that customs duties or charges were overpaid due to error, miscalculation, or misinterpretation. However, Pakistan’s customs law places a strict time restriction on refund claims.
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Fiscal fraud is considered one of the most serious offences under Pakistan Customs laws. To safeguard government revenue and ensure transparency in cross-border trade, Section 32A of the Customs Act, 1969 (updated for tax year 2026) defines specific actions that amount to customs-related fiscal fraud and prescribes strict enforcement measures.
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False declarations during import or export clearance are treated seriously under Pakistan’s customs laws. In 2026, Section 32 of the Customs Act, 1969 clearly outlines how Pakistan Customs detects, investigates, and recovers losses arising from false statements, errors, or misdeclarations—including those submitted through electronic systems.
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Islamabad, January 26, 2026 — Pakistan’s export of services has delivered a strong boost to national revenues, helping the Federal Board of Revenue (FBR) record a 22 percent increase in tax collection during the first half of fiscal year 2025–26 (July–December) compared to the same period last year.
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Understanding the date of duty rate is crucial for importers to calculate the correct import duty for their shipments. Section 30 of the Customs Act, 1969 (updated for 2026) clearly defines how and when the rate of duty is determined for imported goods.
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Pakistan Customs provides mechanisms for abatement of duty on goods that are damaged, deteriorated, or short-shipped under Section 27 of the Customs Act, 1969 (updated for 2026).
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