Author: Shahnawaz Akhter
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FBR Sets Penalties for Non-Filing of Sales Tax Returns
Islamabad, September 15, 2025 – The Federal Board of Revenue (FBR) has officially outlined monetary penalties for individuals and entities that fail to file their sales tax returns within the prescribed deadlines during the tax year 2025-26.
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SBP expected to keep benchmark policy rate unchanged at 11%
Karachi, September 15, 2025 – The State Bank of Pakistan (SBP) is widely expected to maintain its benchmark policy rate at 11 percent in the upcoming Monetary Policy Committee (MPC) meeting scheduled for Monday (today).
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FTO slams illegal tax assessment by Karachi FBR officials
Islamabad, September 2025 – The Federal Tax Ombudsman (FTO) has issued strong remarks against the Federal Board of Revenue (FBR) officials in Karachi for passing what it termed “patently illegal” and ex parte tax assessment orders against an old-age citizen.
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Dream Number: FBR Nears 8 Million Active Taxpayers
Karachi, September 15, 2025 – The Federal Board of Revenue (FBR) is on the verge of achieving a historic milestone of 8 million active taxpayers for the tax year 2024, according to the latest figures released on Monday.
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Tax exemption to electricity companies surge 173%: FBR
Karachi, September 14, 2025 – The Federal Board of Revenue (FBR) has reported a massive surge in tax benefits provided to the electricity generation sector.
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Income Tax Credits Surge to Rs78 Billion: FBR
The Federal Board of Revenue (FBR) has reported a significant jump in income tax credits, which surged to Rs78 billion in tax year 2024 compared to Rs24 billion in the preceding year.
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Avail Sales Tax Return Filing Extension on These Grounds
Islamabad, September 13, 2025 – The Federal Board of Revenue (FBR) has clarified the rules for taxpayers who need extra time to file their sales tax return. Through the updated Sales Tax Act, 1990, as amended by the Finance Act 2025, Section 26AB outlines how a registered person may apply for an extension in filing…
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Who Must File Sales Tax Return in 2025-26?
Islamabad, September 13, 2025 – The Federal Board of Revenue (FBR) has introduced important amendments to Section 26 of the Sales Tax Act, 1990, clarifying who must file a sales tax return during the tax year 2025-26.
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What is method of accounting in tax year 2025-26?
Karachi, September 13, 2025 – The Federal Board of Revenue (FBR), through the updated Income Tax Ordinance, 2001, has provided a detailed explanation of the method of accounting that taxpayers must follow for the tax year 2025-26.
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FBR limits deduction for consumer loans in 2025-26
Karachi, September 13, 2025 – The Federal Board of Revenue (FBR) has introduced new restrictions on deductions related to consumer loans, a move aimed at strengthening oversight of lending practices in the financial sector.
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