Karachi, September 19, 2025 – The Karachi Tax Bar Association (KTBA) has strongly urged the Federal Board of Revenue (FBR) to stop issuing recovery notices to taxpayers and immediately resolve long-standing technical issues on the IRIS portal.
(more…)Author: Shahnawaz Akhter
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Murree Brewery posts over 24% surge in annual profit
Karachi, September 19, 2025 – Murree Brewery Company Limited on Friday announced strong financial results, declaring a surge of more than 24% in net profit for the year ended June 30, 2025.
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Pakistan’s Weekly Forex Reserves Rise by $55 Million: SBP
Karachi, September 18, 2025 – The State Bank of Pakistan (SBP) on Thursday announced an increase in the country’s foreign exchange (forex) reserves, which rose by $55 million during the latest reporting week.
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FBR reports 45% cut in tax exemption on gratuity income
Karachi, September 18, 2025 – The Federal Board of Revenue (FBR) has reported a 45 percent reduction in income tax exemption on gratuity payments to employees.
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What is EIF and Why is it Important for Importers?
In Pakistan’s trade and customs framework, the Electronic Import Form (EIF) plays a central role for all importers of goods. Introduced through the State Bank of Pakistan (SBP) regulations and integrated into the WeBOC (Web-Based One Customs) system, EIF ensures that every import transaction is properly declared, monitored, and aligned with foreign exchange regulations.
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SBP directs banks to establish EDI with PSW
Karachi, September 17, 2025 – The State Bank of Pakistan (SBP) has issued a directive making it mandatory for commercial banks to establish Electronic Data Interchange (EDI) with the Pakistan Single Window (PSW).
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FBR allows Zakat as deductible allowance for tax year 2025-26
Islamabad, September 17, 2025 – The Federal Board of Revenue (FBR) has announced that Zakat will continue to be treated as a deductible allowance for taxpayers during the tax year 2025-26.
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Tax Year 2025-26: sales tax penalty for obstructing FBR officials
Islamabad, September 17, 2025 – The Federal Board of Revenue (FBR) has announced strict measures under the Sales Tax Act, 1990, by introducing a defined penalty for individuals or businesses that obstruct tax officials in the course of their duties.
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FBR sets penalties for non-compliance in sales tax record sharing
Karachi, September 17, 2025 – The Federal Board of Revenue (FBR) has formally announced a new structure of monetary penalties aimed at taxpayers who refuse to provide sales tax records when required by law.
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FBR releases details of sales tax exemptions across sectors
Islamabad, September 17, 2025 – Pakistan’s sales tax expenditure for the fiscal year 2023-24 has been estimated at Rs. 1,237.11 billion, reflecting a notable decline of 18.61% compared to the previous fiscal year, according to data released by Federal Board of Revenue (FBR).
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