Karachi, May 22, 2025 – In a powerful and urgent appeal, the Association of Builders and Developers of Pakistan (ABAD) has demanded the immediate abolition of the controversial deemed income tax under Section 7E of the Income Tax Ordinance, 2001.
(more…)Author: Shahnawaz Akhter
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Sindh notifies super tax rates on agricultural income
Karachi, May 22, 2025 – The Government of Sindh has officially notified the implementation of super tax rates on agricultural income, following the enactment of the Sindh Agricultural Income Tax Act, 2025.
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FBR seeks data on officials receiving both salary and pension
Islamabad, May 21, 2025 – The Federal Board of Revenue (FBR) has initiated a detailed investigation to identify federal officials who are simultaneously drawing a salary and pension.
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Pakistan slashes profit rates, shocks national savings investors
Karachi, May 21, 2025 – In a significant move impacting millions of small investors, Pakistan has sharply reduced the profit rates on various national saving instruments, bringing most returns down to single digits.
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SAI cheers Karachi’s leap toward water self-sufficiency
Karachi, May 21, 2025 – The Site Association of Industry (SAI) Karachi has declared the TP-1 and TP-3 recycled water treatment plants as transformative projects essential for achieving water self-sufficiency in the city’s largest industrial zone.
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FBR cracks down on 72 Pakistanis’ foreign income, assets secrets
Karachi, May 21, 2025 – In a bold and dramatic move, the Federal Board of Revenue (FBR) has zeroed in on 72 ultra-wealthy and influential individuals, launching a high-stakes investigation into their foreign income and offshore assets.
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KSE-100 index nears historic high amid strong market sentiment
Karachi, May 21, 2025 – The Pakistan Stock Exchange (PSX) witnessed another bullish session on Wednesday as the benchmark KSE-100 index surged, closing just below its all-time high.
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Banks advocate revisions in tax recovery from customer accounts
Karachi, May 21, 2025 – Banks in Pakistan have raised significant concerns regarding the existing framework for tax recovery enforced by the Federal Board of Revenue (FBR) on account holders.
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LTO Karachi amass record Rs2.56 trillion tax revenue in 10MFY25
Karachi, May 21, 2025 – The Large Taxpayers Office (LTO) Karachi has once again demonstrated its exceptional prowess in revenue mobilization by amassing an unprecedented Rs2.56 trillion in tax collections during the first ten months (July to April) of the fiscal year 2024-25.
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FBR boots corrupt officer over weapons, smuggling, luxury assets
ISLAMABAD, May 21, 2025 – In a shocking move that has rattled the corridors of Pakistan’s civil service, the Federal Board of Revenue (FBR) has officially dismissed Inspector Customs Syed Momin Hussain Shah from service, following a sensational corruption scandal involving illegal weapons, smuggling, and undeclared luxury assets worth Rs150 million.
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