Karachi, March 4, 2026 – The Federal Board of Revenue (FBR) has issued a tax demand of Rs19 billion against United Bank Limited (UBL), covering income tax and federal excise duty (FED) for past years up to the tax year 2025.
(more…)Author: Shahnawaz Akhter
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FPCCI flags energy crisis risk amid Strait of Hormuz disruption
Karachi, March 4, 2026 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has raised serious concerns over potential energy shortages and economic fallout amid ongoing disruptions in the Strait of Hormuz, a key global oil transit route.
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SBP issues auction calendar to raise Rs6.53 trillion from March to May 2026
Karachi: The State Bank of Pakistan (SBP) has released its auction calendar for March to May 2026, setting a cumulative borrowing target of Rs6.525 trillion through Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs). The move highlights significant refinancing requirements and the government’s continued reliance on domestic debt markets.
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How FBR determines valuation of concealed assets under Rule 228
The Federal Board of Revenue (FBR) has the authority to value assets discovered as undeclared or concealed by taxpayers under Rule 228 of the Income Tax Rules, 2002, amended up to November 24, 2023. This rule empowers tax authorities to determine the fair market value of assets to ensure correct taxation under the Income Tax Ordinance, 2001.
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Khurram Ijaz voices concern over widening trade deficit, calls for urgent export boost
Karachi: Khurram Ijaz, General Secretary of the Businessmen Panel Progressive (BMPP) and former Vice President of the Federation of Pakistan Chambers of Commerce and Industry, has expressed serious concern over Pakistan’s widening trade deficit and urged the government to take immediate and effective measures to boost exports.
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FBR agrees to relax super tax payment schedule until June 30: sources
Islamabad, March 3, 2026 — The Federal Board of Revenue (FBR) has agreed to provide relief in the payment of super tax by allowing installments until June 30, 2026, according to industry sources.
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FBR officers directed to explain assets of past 10 years, disclose sources of income
Islamabad, March 2, 2026 – The Establishment Division has directed all officers of the Federal Board of Revenue (FBR) to submit complete declarations of their assets and liabilities for the past ten years, in a major move aimed at strengthening transparency, accountability, and compliance with statutory rules governing government servants.
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Why senior customs officer undergoes psychological examination in FBR investigation?
Islamabad, March 2, 2026 – The Federal Board of Revenue (FBR) has conducted a comprehensive health checkup, including a psychological examination, of a senior Pakistan Customs Service (PCS) officer (BS-18) as part of an ongoing disciplinary inquiry.
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FBR may implement contingency plan to meet FY26 revenue target
Islamabad, March 2, 2026 – The Federal Board of Revenue (FBR) is considering a contingency plan to achieve its revenue collection target for the fiscal year 2025-26, after missing its assigned target for the first eight months of the year, sources confirmed.
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FBR withdraws recovery of embezzled amount from BS-20 officer
Islamabad, March 2, 2026 – The Federal Board of Revenue (FBR) has withdrawn the recovery of an embezzled amount from a former BS-20 officer following the recommendation of the President of Pakistan. The decision comes after a careful review of disciplinary proceedings and the appeal filed by the officer.
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