Islamabad, February 17, 2026 – Determining tax residency in Pakistan hinges on the duration of stay, as outlined in Rule 14 of the Income Tax Rules, 2002 (amended up to November 24, 2023). Understanding this rule is crucial for individuals to comply with the Income Tax Ordinance, 2001.
(more…)Author: Shahnawaz Akhter
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Government must reverse fuel price hike to ease Ramazan inflation: BMPP General Secretary
Karachi, February 16, 2026 — Businessmen Panel Progressive (BMPP) has urged the government to immediately roll back the increase in petroleum product prices imposed from February 16, warning that the decision will further burden the public and businesses during the holy month of Ramazan.
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ATIR workers’ protest hampers tax appeal filing, KTBA warns
Karachi, February 16, 2026 – The Karachi Tax Bar Association (KTBA) on Monday raised serious concerns over the ongoing protest by employees of the Appellate Tribunal Inland Revenue (ATIR), stating that the disruption has severely hampered the filing of appeals and stay applications, causing significant hardship for taxpayers and their legal representatives.
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SBP launches cyber shield to protect banks and customers
Karachi, February 16, 2026 – The State Bank of Pakistan (SBP) on Monday launched “Cyber Shield – the Cyber Resilience Strategy for Regulated Entities”, a comprehensive national framework aimed at strengthening the safety, security, and resilience of Pakistan’s banking and financial system against rapidly evolving cyber threats.
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Pakistan Customs issues new valuation ruling for coconut oil imports
Karachi, February 16, 2026 – The Directorate General of Customs Valuation, under the Government of Pakistan, has issued a new Valuation Ruling No. 2042/2026 to determine uniform customs values for imported coconut oil under Section 25A of the Customs Act, 1969.
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Sindh reduces infrastructure cess, FPCCI hails move to ease business costs
Karachi, February 16, 2026 – The Sindh government has reduced the infrastructure development cess from 1.85% to between 0.80% and 0.85%, a move aimed at lowering the cost of doing business and boosting trade in the province.
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Tax incentive on property purchases slides FBR collection by 29% in 7MFY26
Islamabad, February 16, 2026 – The Federal Board of Revenue (FBR) has reported a sharp 29% decline in advance income tax collection on immovable property purchases during the first seven months (July to January) of fiscal year 2025-26, following significant reductions in tax rates.
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Khurram Ijaz urges merit-based boards to reduce SOE losses and protect taxpayers
Karachi, February 15, 2026 – Khurram Ijaz, Secretary General of the Businessmen Panel Progressive and former Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has called for urgent reforms in the governance of State-Owned Enterprises (SOEs) following the disclosure of staggering losses for the year 2025.
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Tax collection from brokerage and commission surges 20% in 7MFY26
Islamabad, February 15, 2026 – The Federal Board of Revenue (FBR) has reported a significant 20% increase in withholding tax collection from brokerage and commission during the first seven months (July to January) of fiscal year 2025-26.
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FBR collects Rs11 billion in advance tax on foreign card payments in 7MFY26
Islamabad, February 15, 2026 – The Federal Board of Revenue (FBR) has collected Rs11 billion as advance income tax on foreign payments made through credit cards, debit cards, and prepaid cards during the first seven months (July to January) of fiscal year 2025-26.
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