Karachi, February 5, 2026 – The State Bank of Pakistan (SBP) is preparing to roll out a comprehensive “carrot and stick” policy aimed at strengthening asset recovery in cases of financial crimes, including corruption and money laundering, according to official documents.
(more…)Author: Shahnawaz Akhter
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Can FBR Commissioner Issue a Warrant of Arrest for a Tax Defaulter?
Yes — a Commissioner Inland Revenue of the Federal Board of Revenue (FBR) is legally empowered to issue a warrant of arrest against a tax defaulter under Rule 183 of the Income Tax Rules, 2002, as amended up to November 24, 2023.
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How FBR Will Value Undisclosed Immovable Property in Pakistan
If you have concealed immovable property that is later detected by the Federal Board of Revenue (FBR), the tax authorities are legally empowered to determine its value under the Income Tax Rules, 2002, as amended up to November 24, 2023.
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Over 2,000 Afghan Transit Trade containers clog KICT, warns Karachi Chamber
Karachi, February 4, 2026 — The Karachi Chamber of Commerce and Industry (KCCI) on Wednesday sounded the alarm over worsening congestion at Karachi International Container Terminal (KICT), revealing that more than 2,000 stranded containers linked to Afghan Transit Trade (ATT) are severely disrupting terminal operations.
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FBR notifies key amendments to export facilitation scheme rules
Islamabad, February 4, 2026 – The Federal Board of Revenue (FBR) on Wednesday announced important amendments to the Customs Rules, 2001, introducing changes to the Export Facilitation Scheme (EFS) aimed at improving operational flexibility for exporters.
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FBR unveils new auction procedure for shipborne scrap
Karachi, February 4, 2026 – The Federal Board of Revenue (FBR) on Wednesday introduced a detailed procedure for the auction of shipborne scrap, aiming to improve transparency and revenue collection at ports across Pakistan.
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FBR imposes major penalty on customs inspector for possessing NCP vehicle
Islamabad, February 4, 2026 – The Federal Board of Revenue (FBR) has imposed a major penalty on a customs official after disciplinary proceedings established charges of unauthorized use of a Non-Customs Paid (NCP) vehicle and prolonged absence from duty.
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Pakistan sets December 2026 deadline for large-scale tax simplification
Islamabad, February 4, 2026 – The Government of Pakistan has announced December 2026 as the target date to implement major initiatives aimed at simplifying the country’s tax system.
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Government to strip FBR of policymaking powers in major tax reform
ISLAMABAD – The Federal Government has announced plans to fundamentally restructure the nation’s fiscal landscape by establishing an independent Tax Policy Office (TPO) under the Ministry of Finance. To facilitate this shift, the government will introduce a landmark bill to amend the Federal Board of Revenue (FBR) Act, 2007 before June 2026.
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FBR raises Blue Area property values: Check new rates for Islamabad
Islamabad: The Federal Board of Revenue (FBR) has issued updated valuation tables for immovable commercial properties located in Blue Area, Islamabad, one of Pakistan’s most expensive and high-value commercial zones.
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