Karachi, July 17, 2025 – In a historic trading session on Thursday, the KSE-100 index of the Pakistan Stock Exchange (PSX) soared to a record-breaking 138,665 points, marking a powerful comeback for equity markets.
(more…)Author: Shahnawaz Akhter
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Sindh mandates tax invoices for property rent services
Karachi, July 17, 2025 – The Sindh government has made it mandatory for individuals and entities providing or rendering renting of immovable property services to issue tax invoices.
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SRB expands scope of services for quarterly tax return filing
Karachi, July 16, 2025 – The Sindh Revenue Board (SRB) has announced an expansion in the scope of services subject to quarterly return filing under the Sindh Sales Tax regime.
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LTBA seeks return filing deadline extension over login obstacles
Lahore, July 16, 2025 — The Lahore Tax Bar Association (LTBA) has officially called upon the Federal Board of Revenue (FBR) to extend the filing deadline for monthly sales tax returns, citing widespread login and technical disruptions on the IRIS portal.
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ICMAP advocates increasing climate support levy to Rs10
Karachi, July 16, 2025 – The Institute of Cost and Management Accountants of Pakistan (ICMAP) has put forth a comprehensive proposal to the government, urging a significant increase in the climate support levy to Rs10 per liter over the next five years.
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Utility Stores closure confirmed, VSS scheme approved
Islamabad, July 16, 2025 – The federal government has officially introduced a Voluntary Separation Scheme (VSS) for the employees of Utility Stores Corporation (USC) ahead of the entity’s scheduled shutdown on July 31, 2025.
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KTBA flags IRIS login woes, seeks urgent fixes
Karachi, July 16, 2025 – The Karachi Tax Bar Association (KTBA) has drawn urgent attention to persistent operational difficulties being faced by taxpayers and consultants in accessing the Federal Board of Revenue’s (FBR) IRIS portal, particularly related to login authentication.
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KCCI stands firm on July 19 nationwide shutter-down strike
Karachi, July 16, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has reaffirmed its unwavering commitment to the nationwide shutter-down strike scheduled for Saturday, July 19, 2025.
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Unpacking Section 37A: Fair Enforcement or Fear Tactic?
Section 37A of the Sales Tax Act, 1990 introduces robust mechanisms to tackle tax fraud through structured inquiries, investigations, and—when warranted—arrests. While some critics have expressed concern over the powers granted under this provision, a deeper analysis reveals that Section 37A is designed to act as a powerful deterrent against tax fraud rather than a tool to harass honest taxpayers.
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PTCL begins pension adjustment after Supreme Court defeat
Karachi, July 16, 2025 – Pakistan Telecommunication Company Limited (PTCL) has initiated the process of adjusting its financial records following a landmark Supreme Court decision that ruled against the company in a pension-related case filed by its retired employees.
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