Islamabad, August 2, 2025 – The Federal Board of Revenue (FBR) has officially announced the discontinuation of the 25% tax rebate for full-time teachers and researchers starting July 1, 2025.
(more…)Author: Shahnawaz Akhter
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Non-ATL cash withdrawals to face 0.8% tax: FBR
Islamabad, August 2, 2025 – The Federal Board of Revenue (FBR) has clarified that the advance tax on cash withdrawal from banks at the rate of 0.8% is applicable only to individuals not appearing on the Active Taxpayers List (ATL).
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Pension income now taxable from FY 2025-26: FBR
Islamabad, August 2, 2025 – The Federal Board of Revenue (FBR) has announced that pension income will now be taxable under the new rules introduced in the Finance Act, 2025. These changes apply from the tax year 2025-26 and are explained in Income Tax Circular No. 1 of 2025-26, issued by the FBR.
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FBR explains new e-commerce tax framework
Islamabad, August 2, 2025 – The Federal Board of Revenue (FBR) has provided a detailed explanation of the new taxation framework introduced for the e-commerce sector under the Finance Act, 2025.
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KCCI slams night-time customs raids in Karachi markets
Karachi, August 2, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has strongly objected to the ongoing raids being conducted by Customs officials at shops and godowns across Karachi, calling them illegal, unannounced, and highly disruptive.
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Complaints against banks jump 35% in first half of 2025
Karachi, August 2, 2025 – Complaints against commercial banks have surged by 35% during the first half of the calendar year 2025, raising concerns about service quality and customer protection across the banking sector.
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SBP revises foreign exchange exposure limit for banks
Karachi, August 2, 2025 – The State Bank of Pakistan (SBP) has announced a significant revision in the Foreign Exchange Exposure Limit (FEEL) for banks, aiming to enhance flexibility in foreign exchange operations amid evolving market dynamics.
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FBR cracks down on misuse of powers by tax officials
Karachi, August 2, 2025 – The Federal Board of Revenue (FBR) has taken notice of growing concerns from the business community and has begun closely monitoring the conduct of tax officials, especially in cases where enforcement powers are being exercised.
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FBR creates panels for section 37A, 40B oversight
Islamabad, August 1, 2025 — The Federal Board of Revenue (FBR) has constituted two high-level committees to ensure accountability, fairness, and transparency in actions taken by tax officials under Section 37A and Section 40B of the Sales Tax Act, 1990.
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FBR transfers 232 IRS officers in BS-17 to BS-18
Islamabad, August 1, 2025 – The Federal Board of Revenue (FBR) on Friday announced a massive reshuffling of officers belonging to the Inland Revenue Service (IRS), transferring a total of 232 officers serving in BS-17 and BS-18.
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