Karachi, June 30, 2025 – The Karachi Tax Bar Association (KTBA) has formally appealed to the Federal Board of Revenue (FBR) for an urgent extension in the deadline for mandatory electronic integration under the sales tax invoicing system.
(more…)Author: Shahnawaz Akhter
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PSX ends FY25 with explosive rally, hits historic level of 125,627
Karachi, June 30, 2025 – In a dazzling display of investor confidence and bullish momentum, the Pakistan Stock Exchange (PSX) roared to an all-time high level on the final trading day of fiscal year 2024-25.
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FBR reduces transit cargo examination to 5% to boost efficiency
Islamabad, June 30, 2025 – The Federal Board of Revenue (FBR) on Monday officially announced the reduction of transit cargo examination to just 5%. This step is aimed at minimizing procedural delays and enhancing Pakistan’s role as a regional transit hub.
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Revised Super Tax Rates Effective July 1, 2025
Karachi, June 30, 2025 – The government has officially notified revised super tax rates through the Finance Act, 2025, which will take effect from July 1, 2025, for the tax year 2026 and onward.
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Ineligible persons get tax amnesty in Pakistan
Karachi, June 30, 2025 – In a dramatic turn that defies earlier promises and fiscal discipline, the government has secretly opened the doors of tax amnesty to ineligible persons under the garb of “declaration of sufficient sources.”
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Tax and surcharge on pension income to apply from FY 2025-26
Karachi, June 30, 2025 – The Finance Act, 2025 has introduced a significant amendment by bringing pension income under the tax net, imposing both tax and surcharge on high-value pension receipts starting from the fiscal year 2025-26.
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Finance Act 2025 defines ‘digitally delivered services’
Karachi, June 30, 2025 – The Finance Act, 2025 has formally introduced a new definition of digitally delivered services within Pakistan’s income tax framework, marking a major step toward taxation of online and internet-based transactions.
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Audit firms face FBR inspection over dubious tax certification
Karachi, June 29, 2025 – In a landmark move, the Federal Board of Revenue (FBR) will now subject audit firms to official inspection in cases involving questionable tax certifications. This significant development comes through the Finance Act, 2025, which aims to hold not just taxpayers, but also their auditors, accountable for misrepresentations in sales tax matters.
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Finance Act 2025 sets new arrest rules for sales tax fraud
Karachi, June 29, 2025 – The Finance Act, 2025 has introduced a comprehensive and structured procedure for the arrest and prosecution of individuals and entities involved in tax fraud under Section 37A of the Sales Tax Act, 1990.
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Finance Act 2025 grants IR officers civil court powers
Karachi, June 29, 2025 – In a significant legislative development, the Finance Act, 2025 has introduced sweeping changes to the powers of Inland Revenue (IR) officers by granting them the authority of a civil court during the course of inquiries under the Sales Tax Act, 1990.
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